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Question - Jay Corp. is engaged in raising dairy livestock. Data provided 2021 follows: Carrying amount on Jan. 1, P1,500,000; Increase due to purchases P1,000,000; Gain arising from change in fair value less costs to sel attributable to price change, P200,000; Gain arising from change ir fair value less costs to sell attributable to physical change, P300,000 Decrease due to sales, P400,000; Decrease due to harvest, P100,000. Find the carrying amount of the biological assets of Jay Corp. on Dec 31, 2021?
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