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Prepare the journal entry to record the year$-$end adjustments required under IAS $41.($Credit account titles are automatically

indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for

the amounts. List debit entry before credit entry.$)$Farmer Sarasota Industries Inc. is in the business of producing organic foods for sale to restaurants and in local markets. The company

uses IFRS and has a June $30$ fiscal yearend.

As an experiment, the company has decided to try raising organic free$-$range chickens. On May $1,2023,$ Farmer Sarasota purchased

$120$ new hatchlings for cash at a total cost of $$1,220.$ The company paid cash for feed and labour costs of $$180$ per month to look after

the chicks. 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, the chickens had a fair value of

$$2,200,$ and the company would have to transport them to its customers at an average cost of $$3$ per chicken.

On October $30,$ all $120$ chickens had matured and the company sold and shipped $50$ of the chickens to one of its key customers for $$30$

per chicken. Transportation costs were $$3$ per chicken, as expected.