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  1. business
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  3. at the end of the fiscal year, cumberland, inc. ha

At the end of the fiscal year, Cumberland, Inc. has an outstanding non-cancellable purchase commitment...

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Accounting

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At the end of the fiscal year, Cumberland, Inc. has an outstanding non-cancellable purchase commitment for 1.000 pounds of raw materials at a price of $5.20 per gallon for delivery during the coming winter. Cumberland, Inc. prices its inventory at the lower of cost or market. If the market price for a pound of raw materials at the end of the year is $5,00, how would this situation be reflected in the annual financial statements? an unrealized loss of $5,000 an unrealized loss of 5200 an unrealized gain of $200 no unrealized gain or loss Question 27 12 points) Thenette ble value for Product GP is $20 the normal profit for product PS1.50 and the market diye NO prt sc delete 14 A & backspace 5 6 & 7 8 9 { T ] Y U O PC en

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