On 1 January 2022, First Solution Bhd decided to sell one of its factories in Pegoh Industrial Park, Melaka. The factory acquired by First Solution Bhd on 1 January 2015 for RM 15,000,000. The factory useful life was 15 years. The company hired a property agent to ease the sales and the price has been agreed at RM 5,200,000 while the agent fees incurred was RM 200,000. The company completed the necessary work to vacant the factory on 1 July 2022. The financial year end is on 31 December each year. Determine the classification of the factory for the year 2022. a. b. d. The factory shall be classified as non-current assets held for sale based on MFRS 5 on 1 July 2022 when its available for immediate sale and the sale is highly probable. The factory shall be classified as non-current assets held for sale based on MFRS on 1 January 2022 when the company decided to sell it and hired a property agent to managed the sales. The factory shall be classified as MFRS 116 Property, Plant and Equipment in year 2022 because there is no guarantee the company managed to find a buyer to sell the factory during the year.. The factory shall be classified as an inventory under MFRS 102 because the company has decided to sell it in the year 2022. (2 marks)