A group of thirty 2-year old piggy was held by Ralph Ranch at January 1, 2022. Five one-year old piggy were purchased on January 5, 2022 for P8,000 each and ten were born on same date. No biological assets were disposed during the year. Per unit fair values less cost to sell were as follows: Age January 1 December 31 3- year old-------------P15,000 ---------------P16,500 2-year old --------------11,200 -------------- 11,600 1- year old ------------- 8,500 ---------------- 8,800 newborn -------------- 6,000 ---------------- 6,500 The company discloses separately the increase in fair value less cost to sell due to physical change and change in fair value less cost to sell due to price change. What is the balance of biological assets at December 31, 2022?
A group of thirty 2-year old piggy was held by Ralph Ranch at January 1, 2022. Five one-year old piggy were purchased on January 5, 2022 for P8,000 each and ten were born on same date. No biological assets were disposed during the year. Per unit fair values less cost to sell were as follows:
Age January 1 December 31
3- year old-------------P15,000 ---------------P16,500
2-year old --------------11,200 -------------- 11,600
1- year old ------------- 8,500 ---------------- 8,800
newborn -------------- 6,000 ---------------- 6,500
The company discloses separately the increase in fair value less cost to sell due to physical change and change in fair value less cost to sell due to price change.
What is the balance of biological assets at December 31, 2022?
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