Inventories

SECTION B - CASE 2: BioHarvest Agri BioHarvest Agri Co operates commercial vineyards. The year-end is 30 September 20X6. By 30 September 20X6, BioHarvest had processed some of the harvested grapes into wine. The cost of the wine inventory (including the initial fair value of the grapes and processing costs) is $120,000. The expected selling price of this wine is $150,000. However, BioHarvest must spend $15,000 on bottling and $20,000 on marketing and distribution to sell the wine. At what value should the wine inventory be stated in the Statement of Financial Position at 30 September 20X6?