Exhibit 18-1 in 2010, Alpha Construction Began Work on a Contract

Multiple Choice

Exhibit 18-1 In 2010, Alpha Construction began work on a contract with a price of $850, 000 and estimated costs of $595, 000.Data for each year of the contract are as follows:
$\begin{array}{llll}&2010&2011&2012\\\text { Costs incurred chring the year } & \$ 238,000 & \$ 319,600 & \$ 105,000 \\\text { Estimated costs to complete } & 357,000 & 139,400 & -0- \\\text { Partial billings } & 260,000 & 210,000 & 380,000 \\\text { Collections } & 240,000 & 200,000 & 410,000\end{array}$


-Refer to Exhibit 18-1.Under the percentage-of-completion method of revenue recognition, the net amount reported for construction in progress inventory at the end of 2011 would be

A) $ 87, 600
B) $189, 600
C) $210, 000
D) $312, 000