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During 2022, Pronghorn Furniture Company a carload of wicker chairs. The manufacturer sells the chairs to Pronghorn for a lump sum of 137,655 because
During 2022, Pronghorn Furniture Company a carload of wicker chairs. The manufacturer sells the chairs to Pronghorn for a lump sum of 137,655 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 Type No. of Chairs Price Each Lounge chairs 920 90 Armchairs 690 80 Straight chairs 1,610 50 During 2022, Pronghorn sells 460 lounge chairs, 230 armchairs, and 276 straight chairs. What is the amount of gross profit realized during 2022? What is the amount of inventory of unsold straight chairs on December 31, 2022? (Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to O decimal places, e.g. 5,845.) Gross profit realized during 2022 Amount of inventory of unsold straight chairs
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