Which of the following is true regarding values?

a. they are invariably fluid and flexible in nature.
b. they are always established in a person's later years.
c. they have content and intensity attributes.
d. they never change irrespective of external factors.
e. they are void of a judgmental element.

At the end of the fiscal year, apha airlines has an outstanding non-cancellable purchase commitment for the purchase of 1 million gallons of jet fuel at a price of $4.10 per gallon for delivery during the coming summer. the company prices its inventory at the lower of cost or market. if the market price for jet fuel at the end of the year is $4.50, how would this situation be reflected in the annual financial statements?