Dub Dairy Produces Milk to Sell to Local and National

Dub Dairy produces milk to sell to local and national ice cream producers.Dub Dairy began operations on January 1, 2011 by purchasing 840 milk cows for $1,176,000.The company controller had the following information available at year end relating to the cows: At December 31, 2011, what is the value of the milking cows on Dub Dairy's statement of financial position?

A) $1,176,000
B) $1,541,000
C) $1,134,000
D) $1,499,000