Menuisor makes custom staircases. At the reporting date, a staircase in progress has a cost incurred of 18,000. Once completed, it will be sold for 19,500; the estimated costs of completion amount to 1,200 and the estimated selling costs to 900. Compute the net realisable value of the staircase and the amount at which it is measured in inventories.
- Cost incurred at the reporting date
- 18,000
- Estimated selling price of the completed staircase
- 19,500
- Estimated costs of completion
- 1,200
- Estimated selling costs
- 900