BONK CHOY INC. owns a herd of cows. A herd of 10 2-year-old cows was held on

January 1, 2021. One cow aged 2.5 years was purchased on July 1, 2021 for Php

1,080, and one cow was born on July 1, 2021. No cows were sold or disposed during

the period. Per unit less costs to sell were as follows:

January 1, July 1, 2021 December 31, 2021 2021 New born cow Php 700 Php 720 /2 year old cow 800 2-year-old cow 1,000 1,050 2 1/2 -year-old cow 1,080 1,110 3-year-old cow 1,200