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How much is the gain recognized on august

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Question - On August 1, 20x1, a dairy cattle of WOO COURT Co. gave birth to a calf. The fair value less cost to sell of a newly born calf as of August 1, 20x1 is 20,000. Costs incurred to induce procreation such as costs of artificial insemination, costs of labor and cesarean birth totaled 12,000. How much is the gain recognized on August 1, 20x1?

Reference no: EM133147888

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