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Cullumber Corporation, a manufacturer of Mexican foods, contracted in 2020 to purchase 3200 pounds of a spice mixture at $6.20 per pound, delivery to be

Cullumber Corporation, a manufacturer of Mexican foods, contracted in 2020 to purchase 3200 pounds of a spice mixture at $6.20 per pound, delivery to be made in spring of 2021. By 12/31/20, the price per pound of the spice mixture had dropped to $5.90 per pound. In 2020, Cullumber should recognize

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