Marlane, a developer, held apartments in inventory for sale, recorded at 2,100,000. For lack of buyers, it leases them to third parties (change in use evidenced, case data). It measures its investment property at fair value, which is 2,450,000 at the date of the change. What gain does it recognise in profit or loss for the transfer?
- Carrying amount of inventory before transfer
- 2,100,000
- Fair value at the date of the change in use
- 2,450,000