at december 31, 2023, Swifty Ltd. has outstanding non-cancellable purchase commitments for 36,900 litres of raw material at $2.00 per litre. the material will be used in Swifty's manufacturing process, and the company prices its raw materials inventory at cost or NRV, which is lower. Assuming that the market price as at December 31, 2023, is $1.60 per litre instead of $2.00 how would this commitment be treated in the accounts and statements