What the carrying amount of the biological asset as of dec

Reference no: EM132728539

In 2018, a farmer purchased a mango plantation at 100000, which approximates its fair value less cost to sell at that time. On dec 31 2018, the plantation is valued at 182500 (fair value less cost to sell). On dec 31 2019, the value of tree has not improved, but tge trees has mangoes on it worth 42500. On june 30 2020, the farmer harvest , at a cost 1500, the mangoes at, at which stage the magoes are valued 57500(fair value less cost to sell) . The farmer incurred cost of growingvand cultivating the trees ( fertilizer, water, etc) amounting to 7500, 5000 and 2500 in the years 2018, 2019 and 2020,respectively. On dec 31 2028, the farmer also incurs 20000 direct cost in processing the magoes into delicacies ready for sale to its customers.

Problem 1: The carrying amount of the biological asset as of dec 31 2019 is?

Reference no: EM132728539

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