help! During 2020, Sandhill Furniture Company purchases a carload of wicker...
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During 2020, Sandhill Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sandhill for al lump sum of $53,865 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. No. of Chairs Estimated Selling Price Each 280 $90 Type Lounge chairs Armchairs Straight chairs 210 80 490 50 During 2020, Sandhill sells 180 lounge chairs 90 armchairs and 108 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? (Do not round relative sales price. Round cost per chair to 2 decimal places, eg. 78.25 and final answer to O decimal places, eg. 5,845) Gross profit realized during 2020 $ Amount of inventory of unsold straight chairs $
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