Alpha mining company recognizes 2 of depletion for each ton, Financial Accounting

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Alpha mining company recognizes 2 of depletion for each ton

Alpha Mining Company recognizes $2 of depletion for each ton of ore mined. During 2016, 850,000 tons of ore were mined and 725,000 tons were sold. Using this information, how much should be recorded on June 30 for the following accounts:

Accumulated Depletion

Inventory

Cost of Goods Sold

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Financial Accounting: Alpha mining company recognizes 2 of depletion for each ton

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Financial Accounting: Alpha mining company recognizes 2 of depletion for each ton

Reference No:- TGS01665515

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