Boing Companies began operations on January 1, 2020. The company only has one client for whom it is building an airplane at a price of $ 2,000,000. The costs incurred during 2020 and directly related to the construction of the aircraft were $ 375,000. The company estimates that the total costs required to complete construction is $ 1,125,000. The following is the partial financial statement of the Boing Company for 2020. BOING COMPANIES Statement of Financial Position As of December 31, 2020 ASSETS: Current assets: Cash $ 100,000 Accounts Receivable 150,000 Inventory: Construction in Progreso 375,000 Construction in Progreso (350,000) 25,000 Other current assets 225,000 Total Current Assets $ 500,000 Based on the information provided, what method is Boing using to account for the construction contract?

Select one: a. Percentage of Completion

b. Can't determine

c. Term Sales

d. Contract Completed