On February 26, 2019, Clary agreed to conduct a consulting study for a customer, Magee Corp., for a price of $19,000.The study will take approximately one month and will culminate in a report to be presented to the customer.Clary determined that there are two performance obligations with this agreement.The first performance obligation is the study, which has a stand-alone value of $18,000.This obligation is met when the study findings are delivered to the customer.The second performance obligation is a data update, which will be delivered roughly three months after the first performance obligation is satisfied.The stand-alone value of the data update is $2,000.

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