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LSR Corporation, a manufacturer of foods, contracted in 2018 to purchase 10,000 pound of corn seeds at 5 per pound, delivery to be made in

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LSR Corporation, a manufacturer of foods, contracted in 2018 to purchase 10,000 pound of corn seeds at 5 per pound, delivery to be made in spring of 2019. By 12/31/2018, the price per pound had dropped to 4.6 per pound. At 31- 12-2018 LSR Corporation should recognize: * O a loss of 4,000. O a gain of 400 a loss of 400. no gain or loss

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