During 2017, Stellar Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Stellar for a lump sum of $55,000 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.

Est No. of chairs Price Facl Type Lounge chairs 500 $90 Armchairs 400 80 Straight chairs B00 50 During 2017, Stellar sells 200 lounge chairs, 100 armchairs, and 140 straight chairs. What is the amount of gross profit realized during 2017? What is the amount of inventory of unsold straight chains on December 21, 2017? (Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to 0 decimal places, e.g. 5,845.) Gross profit re zed during 2017 Amount of inventory of unsold straight chairs s