Question 2

QUESTION 2 Joyce Mining Ltd had only one area of interest and started production on 1 July 2020. During 1 July 2020 and 30June 2021, 200,000 tonnes of ore were mined, and 160,000 tonnes were sold. The total production costs during the year is $1,250,000. In the same period, administrative expense and selling expense are $380,000 and $280,000, respectively. What is the cost of goods sold for the year ended 30June 2021? Do not include commas and dollar Sign (S) in your answer. Present $1,000 as 1000