During $2022,$ a company purchased a mine at a cost of $$3,000,000.$ The company spent an additional $$600,000$ getting the mine ready for its intended use. It is estimated that $300,000$ tons of mineral can be removed from the mine and the residual value of the mine will be $$600,000.$ During $2022,45,000$ tons of mineral were removed from the mine and $35,000$ tons were sold.

Which of the following statements is incorrect with respect to the accounting for the mine?

Multiple Choice

The book value of the mine decreased $$450,000$ during $2022.$

The book value of the mine on December $31,2022$ was $$2,650,000.$

The $2022$ cost of goods sold was $$350,000.$

The inventory of minerals was $$100,000$ at December $31,2022.$