A company enters into a contract that includes three separate performance obligations. The standalone prices are not readily available for the performance obligations. How should the company proceed in allocating the transaction price?

The company is not able to allocate the transaction price at this time; it should wait until other customers engage the company for similar performance obligations and allocate the transaction price based on the pricing from those contracts.

Because the company does not have the stand-alone pricing readily available, it should not separate the performance obligations and should allocate the sales price to a single performance obligation.

The company should estimate the standalone prices of the performance obligations in order to allocate the transaction price based on the proportion of the total standalone price represented by each performance obligation.

Because the standalone pricing is not available, the company should allocate the transaction price evenly among the three performance obligations.