CERTYNEX IFRS ACADEMY

Vitralis is manufacturing a glass roof whose cost incurred at the reporting date amounts to EUR 1,200. Once completed, it can be sold for EUR 1,300; the remaining costs of completion are estimated at EUR 150 and the selling costs at EUR 50. At what amount is this glass roof in progress measured at the reporting date?

EUR 1,200, the cost incurred at the reporting date.

EUR 1,150, the selling price less the costs of completion.

EUR 1,100.

EUR 1,300, the expected selling price of the completed glass roof.