urniture Company

During 2025, Oriole Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Oriole for a lump sum of $149,625 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 Lounge chairs No. of Chairs Price Each 1,000 $90 Armchairs 750 80 Straight chairs 1,750 50 During 2025, Oriole sells 500 lounge chairs, 250 armchairs, and 300 straight chairs. (a) 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 O decimal places, e.g. 5,845.) Gross profit realized during 2025 $ (b) eTextbook and Media Save for Later Attempts: unlimited Submit Answer What is the amount of inventory of unsold straight chairs on December 31, 2025? (Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to O decimal places, e.g. 5,845.) Amount of inventory of unsold straight chairs $ eTextbook and Media Save for Later Attempts: unlimited Submit Answer