How much is the change in fvlcs due to price change

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Reference no: EM133109900

Question - Biological assets SW - A herd of 10 2-year old animals was held at January 1, 2018. One animal aged 2.5 years was purchased on July 1, 2018 for P1,080, and one animal was born on July 1, 2018. No animals were sold or disposed of during the period. Per unit fair value less costs to sell were as follows:

 

Jan 1, 2018

July 1, 2018

Dec. 31, 2018

New born animal

 

P700

P720

½ year old animal

 

 

800

2-year old animal

P1,000

 

1,050

2½ year old animal

 

1,080

1,110

3 year old animal

 

 

1,200

Required -

1. How much is the total gain (loss) from the change in FVLCS during the period?

2. How much is the change in FVLCS due to price change.

3. How much is the change in FVLCS due to physical change.

4. How much is the FVLCS of herd at December 31, 2018?

Reference no: EM133109900

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