A public limited company, Bandong Dairy Products, produces milk on its farms. As of January 1, 2023, the firm has stock of 1,050 cows (average age, 2 years old) and 150 heifers (average age, 1 year old). The firm purchased 375 heifers, average age 1 year, on July 1, 2023. No animals were born or sold during the year. The unit values less estimated POS costs were 1-year old animal at December 31, 2023 - ₱3,200 2-year old animal at December 31, 2023 - ₱4,500 1.5-year old animal at December 31, 2023 - ₱3,600 3-year old animal at December 31, 2023 - ₱5,000 1-year old animal at January 1, 2023 and July 1, 2023 - ₱3,000 2-year old animal at January 1, 2023 - ₱4,000 What is the carrying value of the biological asset to be reported as of December 31 in the statement of financial position? [A] 5,775,000 [B] 7,275,000 [C] 7,612,500 [D] 6,555,000
A public limited company, Bandong Dairy Products, produces milk on its farms. As of January 1, 2023, the firm has stock of 1,050 cows (average age, 2 years old) and 150 heifers (average age, 1 year old). The firm purchased 375 heifers, average age 1 year, on July 1, 2023. No animals were born or sold during the year. The unit values less estimated POS costs were
1-year old animal at December 31, 2023 - ₱3,200
2-year old animal at December 31, 2023 - ₱4,500
1.5-year old animal at December 31, 2023 - ₱3,600
3-year old animal at December 31, 2023 - ₱5,000
1-year old animal at January 1, 2023 and July 1, 2023 - ₱3,000
2-year old animal at January 1, 2023 - ₱4,000
What is the carrying value of the biological asset to be reported as of December 31 in the
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