prepare rhe journal entry to record the year end adjustment required under IAS 41

Farmer Sarasota Industries Inc. is in the business of producing organic foods for sale to restaurants and in local markets. The company USEIFRS and has a June 30 fiscal year end. As an experiment, the company has decided to try raising organic free-range chickens. On May 1, 2020, Farmer Sarasota purchased 80 new hatchlings for cash at a total cost of $800. The company paid cash for feed and labour costs of 5120 per month to look after the chickes. Their acceptable) accounting policy is to capitalize these costs. On June 30, the company estimated that the chickens would mature in mid October. At year end they had a fair value of $1,400 and the company would have to transport the chickens to their customers at an average cost of $3 per chicken On October 30, all 80 chickens had matured and the company sold and shipped 50 of the chickens to one of its key customers for $30 perchideen Transportation costs were 53 per chicken, as expected