how to account for this under ifrs

inancial Statements 1. In November 2020 Noli received a $500,000 non-cancellable order from an established customer. The order can't be cancelled because the items are only useful to this customer. The order is for a specially designed item the customer needs for a new product. The customer asked for delivery only when the order was fully completed because of special storage requirements for the items and agreed to pay once production was complete under normal credit terms. Noli completed production of the items in early December and they were ready to ship a few days after that. However, because of logistical problems the items could only be shipped to the customer in early January. Noli recognized the revenue on delivery as is its normal practice. Noli incurred $250,000 in development costs for the order. The design is currently only applicable to this customer's item but Noli expects that it will have applications for items Noli will develop and sell in the future. These development costs were expensed as incurred. The cost of producing the items was $225,000. inancial Statements 1. In November 2020 Noli received a $500,000 non-cancellable order from an established customer. The order can't be cancelled because the items are only useful to this customer. The order is for a specially designed item the customer needs for a new product. The customer asked for delivery only when the order was fully completed because of special storage requirements for the items and agreed to pay once production was complete under normal credit terms. Noli completed production of the items in early December and they were ready to ship a few days after that. However, because of logistical problems the items could only be shipped to the customer in early January. Noli recognized the revenue on delivery as is its normal practice. Noli incurred $250,000 in development costs for the order. The design is currently only applicable to this customer's item but Noli expects that it will have applications for items Noli will develop and sell in the future. These development costs were expensed as incurred. The cost of producing the items was $225,000