What is involved in monitoring and reviewing operational performance?

Amanda works as an industrial designer

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?

Aschool purchased a batch of t-shirts from a company. the company charged $6 per t-shirt, and gave the school a $85 rebate. if the school had a net expense of $2,255 from the purchase, how many t-shirts did the school buy?