Based on the latest amendments on IAS 41. Costs to sell now only excludes finance costs and income taxes. Therefore, transport cost is now part of costs to sell (par 5 of IAS 41). Please disregard the part of the video that says costs to sell excludes transport costs.

Also, in the computation of total gain, we must exclude those biological assets that are sold during the period. But take note that deceased biological assets are still included in the computation of total gain. We only exclude deceased animals in the computation of price change.

This video is useful for College students and CPA Aspirants taking up courses: Intermediate Accounting, Conceptual Framework and Accounting Standards, Auditing Problems, and Financial Accounting and Reporting.