During 2025, Crane Furniture Company purchases a carload of wicker chairs. The manufacturer sells the...
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During 2025, Crane Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Crane for a lump sum of $29,925 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three types and the estimated selling price for each are listed below. During 2025, Crane sells 100 lounge chairs, 50 armchairs, and 60 straight chairs. (a) What is the amount of gross profit realized during 2025? (Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to 0 decimal places, e.g. 5,845.) Gross profit realized during 2025$
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