During 2020, Sarasota Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sarasota for a lump sum of $107,730 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.
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During 2020, Sarasota Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sarasota for a lump sum of $107,730 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
|
No. of Chairs
|
Estimated Selling
Price Each |
|||
|---|---|---|---|---|---|
|
Lounge chairs
|
720 | $90 | |||
|
Armchairs
|
540 | 80 | |||
|
Straight chairs
|
1,260 | 50 |
During 2020, Sarasota sells 360 lounge chairs, 180 armchairs, and 216 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, e.g. 78.25 and final answer to 0 decimal places, e.g. 5,845.)
|
Gross profit realized during 2020
|
?
|
|
|---|---|---|
|
Amount of inventory of unsold straight chairs
|
? |
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- During 2020, Martinez Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Martinez for a lump sum of $113,715 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 No. of Chairs Estimated SellingPrice Each Lounge chairs 720 $90 Armchairs 540 80 Straight chairs 1,260 50 During 2020, Martinez sells 380 lounge chairs, 190 armchairs, and 228 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 0 decimal places, e.g. 5,845.) Gross profit realized during 2020 $enter a dollar amount Amount of inventory of unsold straight chairs $enter a dollar…During 2020, Sage Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sage for a lump sum of $83,790 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 No. of Chairs Estimated SellingPrice Each Lounge chairs 560 $90 Armchairs 420 80 Straight chairs 980 50 During 2020, Sage sells 280 lounge chairs, 140 armchairs, and 168 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 0 decimal places, e.g. 5,845.)During 2020, Whispering Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Whispering for a lump sum of $107,730 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 No. of Chairs Estimated SellingPrice Each Lounge chairs 720 $90 Armchairs 540 80 Straight chairs 1,260 50 During 2020, Whispering sells 360 lounge chairs, 180 armchairs, and 216 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?
- During 2020, Sheffield Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sheffield for a lump sum of $179,550 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 1,120 840 1,960 Estimated Selling Price Each Gross profit realized during 2020 $90 80 50 During 2020, Sheffield sells 600 lounge chairs, 300 armchairs, and 360 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, e.g. 78.25 and final answer to 0 decimal places, e.g. 5,845.) Amount of inventory of unsold straight chairs $During 2020, Tamarisk Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Tamarisk for a lump sum or$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. Estimated Selling Туре No. of Chairs Price Each Lounge chairs 480 $90 Armchairs 360 80 Straight chairs 840 50 During 2020, Tamarisk 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? (Do not round relative sales price. Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to O decimal places, eg. 5,845.) Gross profit realized during 2020 %24 Amount of inventory of unsold straight chairs %24During 2020, Marin Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Marin for a lump sum of $167,580 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. Estimated Selling Price Each Туpe No. of Chairs Lounge chairs 1,120 $90 Armchairs 840 80 Straight chairs 1,960 50 During 2020, Marin sells 560 lounge chairs, 280 armchairs, and 336 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 0 decimal places, eg. 5,845.) Gross profit realized during 2020 %24 Amount of inventory of unsold straight chairs %24
- During 2020, Carla Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Carla for a lump sum of $149,625 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 1,000 750 1,750 Estimated Selling Price Each $90 80 50 During 2020, Carla sells 500 lounge chairs, 250 armchairs, and 300 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 $ 29603.1 99215.69During 2020, Culver Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Culver 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. Type Lounge chairs Armchairs Straight chairs No. of Chairs: 480 360 840 Estimated Selling Price Each $90 80 Gross profit realized during 2020 Amount of inventory of unsold straight chairs 50 During 2020, Culver 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? (Do not round relative sales price. Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to 0 decimal places, eg. 5,845.) $ $During 2025, Nash Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Nash for a lump sum of $35,910 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. Estimated Selling Type No. of Chairs Price Each Lounge chairs 240 $90 Armchairs 180 80 Straight chairs 420 50 During 2025, Nash sells 120 lounge chairs, 60 armchairs, and 72 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 O decimal places, e.g. 5,845.) Gross profit realized during 2025 $ 1
- During 2020, Pretenders Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Pretenders for a lump sum of $59,850 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. 000 Type000 No. of Chairs Estimated Selling Price Each Lounge chairs 400000 000 $9000000000 Armchairs 000 300000 000 8000000000 Straight chairs 000 700000 000 5000000000 During 2020, Pretenders sells 200 lounge chairs, 100 armchairs, and 120 straight chairs. Instructions What is the amount of gross profit realized during 2020? What is the amount of inventory of unsold straight chairs on December 31, 2020?During 2022, Bridgeport Furniture Company a carload of wicker chairs. The manufacturer sells the chairs to Bridgeport for a lump sum of £89,775 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 600 450 1,050 Estimated Selling Price Each Gross profit realized during 2022 £90 Amount of inventory of unsold straight chairs 80 During 2022, Bridgeport sells 300 lounge chairs, 150 armchairs, and 180 straight chairs. What is the amount of gross profit realized during 2022? What is the amount of inventory of unsold straight chairs on December 31. 2022? (Round cost per chair to 2 decimal places, e.g. 78.25 and final answer to 0 decimal places, e.g. 5,845.) 50 £ £During 2020, Sheffield Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sheffield for a lump sum of $41,895 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. \table[[Type,No. of Chairs,\table[[Estimated Selling],[Price Each]]],[Lounge chairs,280,$90
