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Assets held for sale | 9 Months Ended
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Nov. 30, 2021
Assets held for sale |
5. Assets held for sale | 5. Asset held for sale On May 27, 2021, we acquired land in Bécancour, Québec for cash of $4.8 million (CDN $5.9 million). The site is part of our planning for an Infinite Loop™ manufacturing facility. We are using a portion of the land in connection with the construction of our Infinite Loop™ manufacturing facility and selling the excess land. The portion of the land we are committed to selling meets all criteria under ASC 360 Property, plant and equipment to be classified as an asset held for sale. The total purchase cost of the land has been allocated between the portion of land held for sale and the land being used for the Infinite Loop™ manufacturing facility based on surface area.
Description |  | Balance sheet line item |  | Cost |
Land held for sale |  | Assets held for sale |  | $ | 3,364,373 |
Infinite Loop™ manufacturing facility |  | Property, plant and equipment, net |  |  | 1,391,556 |
|  |  |  | $ | 4,755,929 |

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