Exercise 9-10 During 2017, Novak Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Novak for a lump sum of $58,300 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 Price Each $90 80 50 Selling Type No. of Chairs 500 300 800 Lounge chairs Armchairs Straight chairs During 2017, Novak sells 200 lounge chairs, 110 armchairs, and 120 straight chairs. What is the amount o gross profit realized during 2017? What is the amount of inventory o unsold straight chairs on December 31 places, e.g.5,845.) 2017? ou a cost perch rto 2 deci a placesg78 25 and in ia s verte de ma Gross profit realized during 2017 Amount of inventory of unsold straight chairs s