-coursework-89357 Financial Accounting by Potes&Maho Class Lab Book Chapter 6 Homework Tiscovered in Reportare 9. Blue Co. acquired coal mines for $86,000,000 on February 10, 20X7 which were estimated to contain 30,000,000 tons of coal. After all of the coal is mined, the salvage value of the property is estimated at $5,000,000. During 20X7, 3,000,000 tons of coal were mined and 2,500,000 tons of coal were sold. At December 31, 20x7, 500,000 tons of coal remained in ending inventory. What dollar value inventory balance will appear on Blue Co.'s statement of financial position as of December 31, 20x77 a. $1,435,000 b. $1,595,000 c. $1,350,000 d. $1,305,000 10. Blue Co. acquired coal mines for $86,000,000 on February 10, 2007 which were estimated to contain 30,000,000 tons of coal. After all of the coal is mined, the salvage value of the property is estimated at $5,000,000. During 20x7, 3,000,000 tons of coal were mined and 2,500,000 tons of coal were sold. At December 31, 20x7, 500,000 tons of coal remained in ending inventory. What was the cost of goods sold for the year ended December 31, 20x77 C$8,100,000 b. $7,975,000 CD $6,525,000 $5,750,000 cover Submit Chapter 6 Homework Page 17 Section in Chapter 6 Homework Next Section in Chapter 6+ 80 20 24 95 % FO 3 6 I : 8 97 D-ll & #7 R T Y L C 8 .00 U 80 19 0