During 2020, Wildhorse Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Wildhorse for a lump sum of $29,925 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.

Question 1 View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. During 2020. Wildhorse Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Wildhorse for a lump sum of $29,925 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. Estimated Selling Price Each Type No. of Chairs $90 Lounge chairs Armchairs Straight chairs 150 80 During 2020, Wildhorse sells 100 lounge chairs, 50 armchairs, and 60 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, eg. 78.25 and final answer to decimal places, e.g. 5,845.) -15684 Gross profit realized during 2020 Amount of inventory of unsold straight chairs $ 9456 eTextbook and Media Save for Later Attempts: 1 of 3 used Submit Answer Assignment sent to Gradebook Your grade is being recorded. Mon, Apr 13, 2020,4:55:53 PM (America/Chicago -05:00) Previous Next