Lynne-Melinda Ltd operates a large scale lavender farm supplying companies producing high quality essential oils in the Riverina region.On 30 June 2012 the farm was independently appraised and the lavender farm valued at $500 000.On 31 October 2012 lavender seed flowers that had a fair value less costs to sell of $100 000 were harvested and sold on the same day for the same amount.Picking costs and delivery charges to point-of-sale was $10 000.On 30 June 2013 the farm was valued at $550 000. What is the net profit for Melinda and Lynne Ltd on 30 June 2013?

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The Answer of Lynne-Melinda Ltd operates a large scale lavender farm supplying companies producing high quality essential oils in the Riverina region.On 30 June 2012 the farm was independently appraised and the lavender farm valued at $500 000.On 31 October 2012 lavender seed flowers that had a fair value less costs to sell of $100 000 were harvested and sold on the same day for the same amount.Picking costs and delivery charges to point-of-sale was $10 000.On 30 June 2013 the farm was valued at $550 000. What is the net profit for Melinda and Lynne Ltd on 30 June 2013?

Lynne-Melinda Ltd Operates a Large Scale Lavender Farm Supplying Companies