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$156,000 DQuestion 11 Marigold Company acquired a tract of land containing an extractable natural resource. Marigold is required by the purchase contract to restore the land to a condition suitable for recreational use after has extracted the wrveys estimate that the recoverable reserves will be 4,910.000 tons and that the land will have a value 0000 after restoration, Relevant cost information follows Geologic $6,334,000 Estimated restoration costs $ 1.130,000 Marigold maintains no inventories of extracted material what should be the charge to depletion expense per of extracted material? Ⓒ $1.29 $1.52 $1.60 Ⓒ $1.40 Question 12 1 pts Sunland Co. has 3.220 units of item X in its inventory as of 1/1/2025. unit cost is $3.00 each. It sells 1.590 units of X on 1/11/2025, purchases 4.180 units at $3.35 on 1/22/2025, then sells 1,450 units on 1/25/2025. What is the COGS for the 1/25 sales using moving average? The moving average unit cost of X inventory at January 31, 2025 is $4858 $4.252 Ⓒ $4.715 Ⓒ $4.350

$156,000 DQuestion 11 Marigold Company acquired a tract of land containing an extractable natural resource. Marigold is required by the purchase contract to restore the land to a condition suitable for recreational use after has extracted the wrveys estimate that the recoverable reserves will be 4,910.000 tons and that the land will have a value 0000 after restoration, Relevant cost information follows Geologic $6,334,000 Estimated restoration costs $ 1.130,000 Marigold maintains no inventories of extracted material what should be the charge to depletion expense per of extracted material? Ⓒ $1.29 $1.52 $1.60 Ⓒ $1.40 Question 12 1 pts Sunland Co. has 3.220 units of item X in its inventory as of 1/1/2025. unit cost is $3.00 each. It sells 1.590 units of X on 1/11/2025, purchases 4.180 units at $3.35 on 1/22/2025, then sells 1,450 units on 1/25/2025. What is the COGS for the 1/25 sales using moving average? The moving average unit cost of X inventory at January 31, 2025 is $4858 $4.252 Ⓒ $4.715 Ⓒ $4.350

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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$156,000 DQuestion 11 Marigold Company acquired a tract of land containing an extractable natural resource. Marigold is required by the purchase contract to restore the land to a condition suitable for recreational use after has extracted the wrveys estimate that the recoverable reserves will be 4,910.000 tons and that the land will have a value 0000 after restoration, Relevant cost information follows Geologic $6,334,000 Estimated restoration costs $ 1.130,000 Marigold maintains no inventories of extracted material what should be the charge to depletion expense per of extracted material? Ⓒ $1.29 $1.52 $1.60 Ⓒ $1.40 Question 12 1 pts Sunland Co. has 3.220 units of item X in its inventory as of 1/1/2025. unit cost is $3.00 each. It sells 1.590 units of X on 1/11/2025, purchases 4.180 units at $3.35 on 1/22/2025, then sells 1,450 units on 1/25/2025. What is the COGS for the 1/25 sales using moving average? The moving average unit cost of X inventory at January 31, 2025 is $4858 $4.252 Ⓒ $4.715 Ⓒ $4.350
Transcribed Image Text:$156,000 DQuestion 11 Marigold Company acquired a tract of land containing an extractable natural resource. Marigold is required by the purchase contract to restore the land to a condition suitable for recreational use after has extracted the wrveys estimate that the recoverable reserves will be 4,910.000 tons and that the land will have a value 0000 after restoration, Relevant cost information follows Geologic $6,334,000 Estimated restoration costs $ 1.130,000 Marigold maintains no inventories of extracted material what should be the charge to depletion expense per of extracted material? Ⓒ $1.29 $1.52 $1.60 Ⓒ $1.40 Question 12 1 pts Sunland Co. has 3.220 units of item X in its inventory as of 1/1/2025. unit cost is $3.00 each. It sells 1.590 units of X on 1/11/2025, purchases 4.180 units at $3.35 on 1/22/2025, then sells 1,450 units on 1/25/2025. What is the COGS for the 1/25 sales using moving average? The moving average unit cost of X inventory at January 31, 2025 is $4858 $4.252 Ⓒ $4.715 Ⓒ $4.350
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