In November 2018, the Brunswick Company signed two purchase commitments. The first commitment requires Brunswick to purchase 11,000 units of inventory at $8 per unit by December 15, 2018. The second commitment requires the company to purchase 21,000 units of inventory at $9 per unit by March 15, 2019. Brunswick's fiscal year-end is December 31. The company uses a periodic inventory system. Both contracts were exercised on their expiration date.

3.Assuming that the unit market price on December 31, 2018, was $8.30, prepare the journal entry to record the purchase on March 15, 2019, assuming the following alternative unit market prices on that date:

1. $9.50
2. $8.00