For breeding livestock bulls and cows that were purchased and not raised, these should be listed individually on the assets worksheet and depreciation taken.
For cattle purchased as feeder cattle and fattened on sold, these would be entered under Purchases in the Cost of Goods Sold area, as farmers on a cash basis (which over 99% are) would just purchases when the cattle are actually sold.
EDITED: 3-6-2018 6:49 AM (CST)
