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Business, 19.03.2021 03:50 okurrrr

E9.12 (LO 3) (Purchase Commitments) At December 31, 2020, Indigo Girls Company has outstanding noncancelable purchase commitments for 36,000 gallons, at $3.00 per gallon, of raw material to be used in its manufacturing process. The company prices its raw material inventory at cost or market, whichever is lower. Instructions a. Assuming that the market price as of December 31, 2020, is $3.30, how would this matter be treated in the accounts and statements

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E9.12 (LO 3) (Purchase Commitments) At December 31, 2020, Indigo Girls Company has outstanding nonca...

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