Which of the following statements define the term net realisable value?

• The estimated selling price in the ordinary course of business plus the estimated costs of completion less the estimated costs necessary to make the sale
• The estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale
• The estimated cost of completion less selling price in the ordinary course of business
• The estimated costs necessary to make the sale plus selling price in the ordinary course of business less the estimated costs of completion