During 2020, Marigold Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Marigold for a lump sum of $179,550 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 1,120 $90

Armchairs 840 80

Straight chairs 1,960 50

During 2020, Marigold sells 600 lounge chairs, 300 armchairs, and 360 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? (Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to 0 decimal places, e.g. 5,845.)