On October 31, afire destroyed Wildhorse Inc's entire retail inventory. The inventory on hand as of January 1 totaled $2765000. From January 1 through the time of the fire, the company made purchases of $687000 and had sales of $1476000. Assuming the rate of gross profit to selling price is 30%, what is the approximate value of the inventory that was destroyed? $2418800 O $2765000 O $3009200 O$1731800 Concord Corporation acquires a coal mine at a cost of $1410000. Intangible development costs total $366000. After extraction has occurred. Concord must restore the property (estimated fair value of the obligation is $181000), after which it can be sold for $503000. Concord estimates that 6000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry to record depletion? (Round intermediate calculations to 2 decimal places, e.g. 20.25 and final answer to nearest dollar amount, e.g. 102456.) Debit to Accumulated Depletion for $218097 Credit to Accumulated Depletion for $369000 Credit to Inventory for $211500 Debit to Inventory for $218097 In January 2020. Vaughn Manufacturing purchased a mineral mine for $6430000 with removable ore estimated by geological surveys at 2500000 tons. The property has an estimated value of $610000 after the ore has been extracted. Vaughn incurred $1725000 of development costs preparing the property for the extraction of ore. During 2020.580000 tons were removed and 520000 tons were sold. For the year ended December 31, 2020, Vaughn should include what amount of depletion in its cost of goods sold? O $1750440 O $1569360 O $1350240 $1210560