During 2017, Bonita Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Bonita for a lump sum of $64,100 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 No. of Chairs Estimated Selling Price Each

Lounge chairs 400 $90

Armchairs 300 80

Straight chairs 600 50

During 2017, Bonita sells 200 lounge chairs, 110 armchairs, and 130 straight chairs. What is the amount of gross profit realized during 2017? What is the amount of inventory of unsold straight chairs on December 31, 2017? (Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to 0 decimal places, e.g. 5,845.)

a. Gross profit realized during 2017:

b.

Amount of inventory of unsold straight chairs