What adler should recognize gross profit of

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Question 1: Adler Construction Co. uses the percentage-of-completion method. In 2018, Adler began work on a contract for £11,000,000 and it was completed in 2019. Costs incurred 2018 £3,900,000, cost incurred 2019 £2,800,000. Estimated costs to complete 2018 2,600,000, Estimated costs to complete 2019 £0 - For the years 2018 and 2019, Adler should recognize gross profit of

Option A. £0 & £4,300,000

Option B. £2,580,000 & £1,720,000

Option C. £2,700,000 & £1,600,000

Option D. £2,700,000 & £4,300,000

Reference no: EM132543726

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