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Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
Edition 5ISBN: 9781630181031Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
Edition 5ISBN: 9781630181031 Exercise 27
Information from a run ticket shows that 1,000 net barrels of oil with an API gravity
of
were sold. The selling price is based on a contract price of $66/bbl, adjusted
downward 4¢ for each degree of gravity less than
. Compute the selling price for the
1,000 barrels.
of
were sold. The selling price is based on a contract price of $66/bbl, adjusteddownward 4¢ for each degree of gravity less than
. Compute the selling price for the1,000 barrels.
Explanation
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Verified
Since the crude oil is 4 degre...
Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
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