Summer Rubber Estate Bhd (SREB) is a rubber estate company located in Sepang, Selangor. The company has 20-hectare land acquired in year 2012 and planted with rubber trees. After seven years, the rubber trees are mature and will produce latex for the next 20 years. The latex is sold to rubber manufacturer for commercial processing. Once the rubber trees stop producing latex, the trees will be cut down and sell as scrap. In addition, SREB also involves in livestock farming and raises a herd of goats and kids near to the plantation. On 30 June 2020, the company had 100 goats aged above 2 years old, 50 kids aged 2 months old and 20 kids borne a week ago. On 1 May 2021, the company managed to sell 20 goats aged above 2 years old at RM950/unit and 10 kids aged 12 months old at RM500/unit. The operating expenses incurred for livestock farming during the year was RM5,500. On 15 May 2021, the nannies gave birth to 10 kids. Additional information: 1. The fair value of the goats and kids as at 30 June 2020 and 30 June 2021 are stated below: 30 June 2020 30 June 2021 (per unit) (per unit) Kid (below 13 months old) 450 530 Goat (above 2 years old) 900 995 Goat (below 2 years old) 750 815 2. The kid becomes a goat at the age of 13 months old and female goat (nanny) gives birth to the kid when it reaches the age of 15 months old. The company usually sells the goats in the principal market at the age of 15 months old, whereas the kids could be sold when they turn into 7 months old. 3. Financial year end for the company is 30 June each year. REQUIRED: (Show details of workings) (a) Identify the type of assets and explain its measurement basis for the following items: () Mature rubber trees (m) Latex (ii) Goat (b) Prepare all related journal entries for livestock farming for the year ended 30 June 2021. (c) Discuss the disclosure requirements for fair value of biological assets that previously measured at cost less any accumulated depreciation and any accumulated impairment losses becomes reliably measurable during the current period