During 2020,SunlandFurniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs toSunlandfor a lump sum of $173,565because 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 1,160 $90

Armchairs. 870. 80

Straight chairs. 2,030. 50

During 2020,Sunlandsells580lounge chairs,290armchairs, and348straight 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.)

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