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What net amount of gain or loss gerbera company report

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Question - GERBERA Company's standing sugar cane fair value as of January 1, 2020 was 2,700,000 and as of December 31, 2020 was 2,800,000. The biological asset has a life span of less than one year and has no dual purpose. The selling price of the agricultural produce harvested during the period was 2,100,000 on the respective dates of harvest. The estimated cost to sell is 100,000. What net amount of gain or loss should GERBERA Company report in its December 31, 2020 profit or loss related to the biological asset and agricultural produce?

Reference no: EM133028613

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