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On March 3 1 , 2 0 2 4 , a company purchased the right to remove gravel from an old rock quarry. The gravel
On March a company purchased the right to remove gravel from an old rock quarry. The gravel is to be sold as roadbed for highway construction. The cost of the quarry rights was $ with estimated salable rock of tons. During The company loaded and sold tons of rock and estimated that tons remained on December On January the company estimated that tons still remained. During the company loaded and sold tons. The company uses the unitsofproduction method.
The company would record depletion in in the amount of:
Note: Do not round depletion rate per ton.
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