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Document 2
Document 2
000tons.
Early in 2022, roads were constructed on the land to aidin the extraction and
transportation of the mined ore at a cost of P20,000,000. In 2020, 600,000 tons were
mined and sold.
A new survey at the end of 2021 estimated 4,200,000 tons of ore available
for mining. In 2021, 900,000 tons were mined and sold.
What amount should be recognized as depletion for 2021?