Classification of inventory

Devendra P (Final Student) (23 Points)

06 November 2016  

Hi

As on end of the Fianancial year, a property developer has completed inventories of residential units which it expects to sell in 3 years. Historically similar residential units have been sold in 3 years. Please help me in this regard about how it needs to be classified in the books(i.e., Either Non-current asset or Current asset or Fixed asset or Capital work on progress)