Question 6 of 16 < > VIEW POLICIES Show Attempt History Current Attempt in Progress Your answer is partially correct. 4.5/9 III E During 2020, Martinez Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Martinez for a lump sum of $71,820 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. Lounge chairs Armchairs No. of Chairs Estimated Selling Price Each 480 $90 360 Straight chairs 840 80 50 During 2020, Martinez sells 240 lounge chairs, 120 armchairs, and 144 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 O decimal places, e.g. 5,845.) Gross profit realized during 2020 Amount of inventory of unsold straight chairs $ 14208