At December 31, 2025, Windsor Company has outstanding noncancelable purchase commitments for 34,300 gallons, at $3.66 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, and uses a perpetual inventory system. (b2) Assuming that the market price as of December 31,2025 , is $3.29, record the journal entry. (List all debit entries before credit entries. Credit occount 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 ofor the omounts.)