If a mining company extracts 1,500,000 tons in a period but only sells 1,200,000 tons,

total depletion on the mine is based on the 1,200,000 tons.

depletion expense is recognized on the 1,500,000 tons extracted.

depletion expense is recognized on the 1,200,000 tons extracted and sold.

a separate accumulated depletion account is set up to record depletion on the 300,000 tons extracted but not sold

Jiffy printing shops does a lot of printing job for college students. the shop use an average of 25 cases of copy paper each day during the 312 days last year. the shop opens 6 days a week for 52 weeks each year and closes on sundays. each case of paper costs $35. it conducts a count of its paper inventory at the end of every quarter of the year. the table below shows the inventory counting records for last year. inventory end of quarter 1 700 cases end of quarter 2 1,050 cases end of quarter 3 920 cases end of quarter 4 800 cases 1. what's jiffy's cost of goods sold last year? 2. what's jiffy's average aggregate inventory value? 3. what's jiffy's inventory turnover last year? 4. what is the printing shop's weeks of supply last year?