On July 1, 2021, Yukon Minerals Co. purchased the mineral rights to a granite deposit for $ 700,000. It is estimated that the recoverable granite will be 400,000 tonnes. During 2021, 100,000 tonnes of granite was extracted and 60,000 tonnes were sold. The amount of the depreciation expense to be included in cost of goods sold for 2021 would be

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The Answer of On July 1, 2021, Yukon Minerals Co. purchased the mineral rights to a granite deposit for $ 700,000. It is estimated that the recoverable granite will be 400,000 tonnes. During 2021, 100,000 tonnes of granite was extracted and 60,000 tonnes were sold. The amount of the depreciation expense to be included in cost of goods sold for 2021 would be