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During 2020, Sandhill Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sandhill for a lump sum of $113,715 because

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During 2020, Sandhill Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sandhill for a lump sum of $113,715 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chaits 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 720 540 1.260 Estimated Selling Price Each $90 BD 50 During 2020, Sandhill sells 380 lounge chairs, 190 armchairs, and 228 straight chairs. During 2020, Sandhill sells 380 lounge chairs, 190 armchairs, and 228 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, es. 78.25 and final answer to decimal places, es 5,845.) q AC Qu Acco Gross profit realized during 2020 Amount of inventory of unsold straight chairs S Ques Accoun Tethnkan

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