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During 2025, Coronado Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Coronado for a lump sum of $101,745 because
During 2025, Coronado Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Coronado for a lump sum of $101,745 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 680 $90 Armchairs 5101 Straight chairs 1,190. 88 80 50 During 2025, Coronado sells 340 lounge chairs, 170 armchairs, and 204 straight chairs. (a) Your answer is correct. What is the amount of gross profit realized during 2025? (Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to 0 decimal places, e.g. 5,845.) Gross profit realized during 2025 $ 2012 What is the amount of inventory of unsold straight chairs on December 31, 2025? (Round cost per chair to 2 decimal places, es. 78.25 and final answer to 0 decimal places, e.g. 5,845.) Amount of inventory of unsold straight chairs $
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