Keyser’s Fleece Inc. holds a drove of sheep. Keyser shears the sheep on a semiannual basis and then sells the harvested wool into the specialty knitting market. Keyser has the following information related to the shearing sheep at January 1, 2014, and during the first six months of 2014.

                              

Prepare the journal entry(ies) for Keyser’s biological asset (shearing sheep) for the first six months of 2014.