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During 2 0 2 0 , Riverbed Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Riverbed for a lump

During 2020, Riverbed Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Riverbed for a lump sum of $137,655 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.
\table[[Type,No. of Chairs,\table[[Estimated],[Selling],[Price Each]]],[Lounge chairs,920,$90
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