On January 1, 2016, Lego Construction Company signed a contract to build a custom garage...
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On January 1, 2016, Lego Construction Company signed a contract to build a custom garage for a customer and received $10,000 in advance for the job. The new garage will be built on the customer's land. To complete this project, Lego must first build a concrete floor, construct wooden pillars and walls, and finally install a roof. Lego normally charges stand-alone prices of $3,000, $4,000, and $5,000, respectively, for each of these three smaller tasks if done separately. How many performance obligations exist in this contract?
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