At 31 July 20X2, Limpet Co had 200 items of work in progress (WIP) within inventories. The WIP cost a total of $18,000 to date. It estimated that the WIP would cost $16 per unit to complete and that each unit would then sell for $95. Direct selling costs are estimated at $3 per unit. In accordance with IAS 2 Inventories, what is the correct value of Limpet Co's WIP as at 31 July 20X2? $15,200 $18,000 $22,800 $18,400