intermediate accounting please don't mess it up like the last guy I only have 1 more attempt

Oriole Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2026 -at a cost of $1,098,400. At December 31,2025 , the raw materials to be purchased have a market value of $1,052,800. In 2026, Oriole paid $1,098,400 to obtain the raw materials which were worth $1,052,800. Prepare the entry to record the purchase assuming the company uses a periodic inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Question 7 of 10 0.33/1= Account Tities and Explanation Debit Credit Inventory 1098400 Extimated Lability on Purchase Commitments 45600 Accounts Payable 1144000 eTextbook and Media List of Accounts Save for Later SUPPORT Attempts: 1 of 2 used Submit