The depletion for 2021 is $1,028,000 .
No, depletion is not considered part of the product cost and isn't included in the cost of inventory
<h3>Depletion per ton</h3>
1. Depletion per ton = $4280000/1070000
= $4 per ton
Depletion for 2021 = 257000 tons*$4
= $1,028,000
Therefore, The depletion for 2021 is $1,028,000 .
2. Depletion is not considered as part of the product cost, It is shown as an expense on the income statement and reduced from the value of the natural resource and so it is equivalent to the depreciation of assets.
Therefore, No, depletion is not considered part of the product cost and isn't included in the cost of inventory
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