At the reporting date, Charpentes Valdor holds a steel frame in the course of production, on which costs of 64,000 have been incurred. Once completed, it is expected to be sold for 75,000. Estimated costs of completion of 9,000 remain to be incurred, and delivery and installation at the customer's site, borne by Valdor, will cost 5,000. Determine the net realisable value of the work in progress and any write-down.
- Cost incurred on the work in progress
- 64,000
- Estimated selling price of the finished product
- 75,000
- Estimated costs of completion
- 9,000
- Delivery and installation costs
- 5,000