A group of thirty 2-year old cattle was held at January 1, 2021. On this same date, additional five 2-year old cows were purchased at P12,500 each and five healthy calves were born. No Cows or calves were sold during the year. Per unit fair values less costs to sell were as follows: January 1, 2021: 2-year old cattle-12,500 Newborn cattle-4,000 December 31, 2021: 3-year old cattle-15,000 2-year old cattle-13,000 1-year old cattle-7,000 Newborn cattle-4,500 The company records separately the increase in fair value less cost to sell due to physical change and due to price change. How much is reported as change in fair value less cost to sell due to physical change? *

A group of thirty 2-year old cattle was held at January 1, 2021. On this same date, additional five 2-year old cows were purchased at P12,500 each and five healthy calves were born. No Cows or calves were sold during the year. Per unit fair values less costs to sell were as follows: January 1, 2021: 2-year old cattle-12,500 Newborn cattle-4,000 December 31, 2021: 3-year old cattle-15,000 2-year old cattle-13,000 1-year old cattle-7,000 Newborn cattle-4,500 The company records separately the increase in fair value less cost to sell due to physical change and due to price change. How much is reported as change in fair value less cost to sell due to physical change? *

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter10: Short-term Decision Making

Section: Chapter Questions

Problem 3PB: Cinnamon Depot bakes and sells cinnamon rolls for $1.75 each. The cost of producing 500,000 rolls in...

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