During 2025, Vaughn Furniture Company purchases a carload of wicker chairs. The manufacturer sells the...
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During 2025, Vaughn Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Vaughn for a lump sum of $119,700 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, Vaughn sells 400 lounge chairs, 200 armchairs, and 240 straight chairs. What is the amount of gross profit realized during 2025 ? (Round cost per chair to 2 decimal places, e g. 78.25 ond final onswer to 0 decimal places. e-8. 5,845.) Gross profit realized during 2025 eTextbook and Medla Attempts: 1 of 3 used (b) What is the amount of imenentory of unsold streight chairs on December 31.2025 ? Theund cout per chale to 2 decimal alaces. c.5. 78.25 and final answer to 0 decimal places, fi.s. 5.8.45.) Amouins of inventory of unsold straight dulin 5
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