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Homework / Cl. 9) Question 4 of 8 0.5/1 E Your answer is partially correct. During 2020, Skysong Furniture Company purchases a carload of wicker
Homework / Cl. 9) Question 4 of 8 0.5/1 E Your answer is partially correct. During 2020, Skysong Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Skysong 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. Type Lounge chairs Armchairs Straight chairs No. of Chairs 920 690 1,610 Estimated Selling Price Each $90 80 50 During 2020, Skysong sells 460 lounge chairs, 230 armchairs, and 276 straight 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 decimal places, eg. 5,845.) Gross profit realized during 2020 $ 27232 Amount of inventory of unsold straight chairs $ 91287 e Textbook and Media W pe 16 (4)
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