Problem #4 Depletion (12 points) In March 2017, Casey Mines Co. purchased a coal mine. The following information is provided: $ 800 Purchase price of coal mine Estimated cost of land that is required to be restored $ 96 $ 84 Estimated amount Casey Mines Co. can sell the land for after it is restored Development costs incurred to prepare the mine for production Estimated tons of removable coal Tons removed in 2017 Tons sold in 2017 $ 200 150 36 24 Show computations and clearly label all answers. 1. What is the amount of depletion per ton (round to two decimal places)? (6 points) 2. What amount should Casey record as depletion (cost of goods sold) for 2017? (3 points) 3. What amount should Casey show in ending inventory at the end of 2017? (3 points)