At December 31, 2020, Culver Company has outstanding noncancelable purchase commitments for 36,100 gallons, at $4.14 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. (62) Assuming that the market price as of December 31, 2020, is $3.73, record the journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts. Round answers to decimal places, eg. 6,225) Date Account Titles and Explanation Debit Credit Dec 31 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit