Please answer the following problems and show the complete solutions of every problems.

PROBLEM 1. An entity has the following Information: Price In the principal market 50.000 Lovies from commodity exchange 450 Commision to brokers 15.000 Transfer taxes and duties 700 Transport costs 900 Advertising costs 1,000 Compute for the following: 1. Fair value 2. Costs to sell 3. Fair value less costs to sell PROBLEM 2. Use the following information for the next four questions: Mel Co. has the following assets. Maize plants 40,000 Wool 6,000 Processed fruit 20,000 Logs 60,000 Trees in timber plantation 200,000 Grape vines 120,000 Cotton plants 20,000 Picked fruit 20,000 Harvested Latex 30,000 Roasted peanuts 20,000 1. How much is classified as biological assets that are accounted for under PAS 41 Agriculture ? 2. How much is classified as property, plant and equipment that are accounted for under PAS 16 Property, Plant and Equipment? 3. How much Is classified as agricultural produce? 4. How much is classified as inventory? PROBLEM 3. On January 1, 20x1, Dan Co. had one, 1-year old animal with a carrying amount of P1,000. On March 31, Dan Co. acquired another animal, aged 2.25 years old, for P2,000, the fair value less costs of the animal on this date. One animal was bom on October 1, 20x1. The fair value less costs to sell of the newborn animal on this date is P500. Dan Co. determined the following fair values less costs to sell on December 31, 20x1: New born P600 .25 years old P800 1 year old P1,200 . . . 2 years old P2,400 2.25 years old P3,000 3 years old P3,500 Compute for the following: 1. Total gain (loss) from the change In FVLCS during the period 2. Change In FVLCS due to price change 3. Change In FVLCS due to physical change