QUESTION 26 2 Brees Corporation, a manufacturer of Mexican foods, contracted in 20X1 to purchase 1,500 pounds of a spice mixture at $5.00 per pound, delivery to be made in spring of 20X2. By 12/31/X1, the price per pound of the spice mixture had dropped to $4.70 per pound. In 20X1, Brees should recognize a loss of $7,500. a loss of $450. no gain of loss. a gain of $450