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Question: in january 2017 crane company purchased a mineral mine for...

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In January 2017, Crane Company purchased a mineral mine for $6340000 with removable ore estimated by geological surveys at 2500000 tons. The property has an estimated value of $590000 after the ore has been extracted. Crane incurred $1725000 of development costs preparing the property for the extraction of ore. During 2017, 588000 tons were removed and 523000 tons were sold. For the year ended December 31, 2017, Crane should include what amount of depletion in its cost of goods sold? $1202900 О $1758000 $1352400 $1563770

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