Answer Happy

During 2020, Concord Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Concord for a lump sum of $53,865 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three types and the estimated selling price for each are listed below. Type Lounge chairs Armchairs. Straight chairs No. of Chairs 280 210 490 Gross profit realized during 2020 Estimated Selling Price Each Amount of inventory of unsold straight chairs eTextbook and Media $90 During 2020, Concord sells 180 lounge chairs, 90 armchairs, and 108 straight chairs. What is the amount of gross profit realized during 2020? What is the amount of inventory of unsold straight chairs on December 31, 2020? (Do not round relative sales price. Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to O decimal places, e.g. 5,845.) 80 50