During 2020, Culver Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Culver for a lump sum of $71,820 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 480 360 840 Estimated Selling Price Each Gross profit realized during 2020 $90 80 50 During 2020, Culver sells 240 lounge chairs, 120 armchairs, and 144 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.) Amount of inventory of unsold straight chairs $ 2

During 2020, Culver Furniture Company purchases a carload of wicker chairs, The manufacturer sells the chairs to Culver for a lump sum of $71.820 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. During 2020 , Culver sells 240 lounge chairs, 120 armchairs, and 144 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, es. 78.25 and final answer to 0 decimal places, es. 5,845.)