Instructions At the end of the fiscal year Phil Collins Realty Corporation instructs you to arrive at the net income E9-10. (Relative Sales Value Method) LO 3) During 2017, Pretenders Furniture Company purchases acatload of wicker chairs. The manufac and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three typ Type No. of Lounge chairs 40 30 Straight chairs 700 Armchairs During 2017, Pretenders sells 200 lounge chairs, 100 armchairs, and 120 straight chairs. Instructions What is the amount of gross profit realized during 20172 What is the amount of imventor of unsold stra Group 2 7lots Group 3 2 lots cts you to arrive at the net income realized on this operation to date. load of wicker chairs. The manufacturer sells the chairs to Pretenders for a lump sum of $59,850 because it is discontinuing manufacturing operations cluded in the carload. The three types and the estimated selling price for each are listed below Type No. of Chairs Estimated Selling Price Each Lounge chairs 400 Armchairs 300 Straight chairs 700 $90 50 nd 120 straight chairs he anount of inrentory of unsold straight chairs on December 31, 2017? process. The company therefore signed a long-term noncancelable purchase its ommitment with its larg 31.2017, the raw material had declined in price to S365,000 Instructions At the end of the fiscal year Phil Collins Realty Corporation instructs you to arrive at the net income E9-10. (Relative Sales Value Method) LO 3) During 2017, Pretenders Furniture Company purchases acatload of wicker chairs. The manufac and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three typ Type No. of Lounge chairs 40 30 Straight chairs 700 Armchairs During 2017, Pretenders sells 200 lounge chairs, 100 armchairs, and 120 straight chairs. Instructions What is the amount of gross profit realized during 20172 What is the amount of imventor of unsold stra Group 2 7lots Group 3 2 lots cts you to arrive at the net income realized on this operation to date. load of wicker chairs. The manufacturer sells the chairs to Pretenders for a lump sum of $59,850 because it is discontinuing manufacturing operations cluded in the carload. The three types and the estimated selling price for each are listed below Type No. of Chairs Estimated Selling Price Each Lounge chairs 400 Armchairs 300 Straight chairs 700 $90 50 nd 120 straight chairs he anount of inrentory of unsold straight chairs on December 31, 2017? process. The company therefore signed a long-term noncancelable purchase its ommitment with its larg 31.2017, the raw material had declined in price to S365,000