he following pertains to Connie Corp's biological assets: Fair value based on unobservable inputs for the asset P4,900 Quoted price in an active market for similar asset P5,400 Quoted price in an active market for identical asset P5,300 Selling price in a binding contract to sell P5,600 Estimated commissions to brokers and dealers P500 Estimated transport and other costs necessary to get asset to the market P300 The entity’s biological assets should be valued at
he following pertains to Connie Corp's biological assets: Fair value based on unobservable inputs for the asset P4,900 Quoted price in an active market for similar asset P5,400 Quoted price in an active market for identical asset P5,300 Selling price in a binding contract to sell P5,600 Estimated commissions to brokers and dealers P500 Estimated transport and other costs necessary to get asset to the market P300 The entity’s biological assets should be valued at
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following pertains to Connie Corp's biological assets: Fair value based on unobservable inputs for the asset P4,900 Quoted price in an active market for similar asset P5,400 Quoted price in an active market for identical asset P5,300 Selling price in a binding contract to sell P5,600 Estimated commissions to brokers and dealers P500 Estimated transport and other costs necessary to get asset to the market P300 The entity’s biological assets should be valued at
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