Indonesia Company is a producer of coffee On December 31, 2020, the entity harvested coffee beans...

 

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Indonesia Company is a producer of coffee On December 31, 2020, the entity harvested coffee beans costing P2,500,000 and with a fair value less the cost of disposal of P2,600,000. Because of the long aging and maturation process after harvest, the harvested coffee beans were still on hand on December 31, 2021. On such a date, the fair value less the cost of disposal is P2,900,000, and the net realizable value is P2,800,000. How much is the amount of the coffee bean agricultural produce on December 31, 2021? Indonesia Company is a producer of coffee On December 31, 2020, the entity harvested coffee beans costing P2,500,000 and with a fair value less the cost of disposal of P2,600,000. Because of the long aging and maturation process after harvest, the harvested coffee beans were still on hand on December 31, 2021. On such a date, the fair value less the cost of disposal is P2,900,000, and the net realizable value is P2,800,000. How much is the amount of the coffee bean agricultural produce on December 31, 2021?

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To calculate the amount of the coffee bean agricultural produce on December 31 2021 we need to consi... View the full answer