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Sunland Construction Co. uses the percentage-of-completion method. In 2018, Sunland began work on a contract for $11600000 and it was completed in 2019. Data on
Sunland Construction Co. uses the percentage-of-completion method. In 2018, Sunland began work on a contract for $11600000 and it was completed in 2019. Data on the costs are:
Year Ended December 31
2018 2019
Costs incurred $3990000 $2860000
Estimated costs to complete 26600000
For the years 2018 and 2019, Sunland should recognize gross profit of
20182019
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