Question: pls answer all. will like & thumbs up During 2020, Sheffield Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to

pls answer all. will like & thumbs up pls answer all. will like & thumbs up During 2020, Sheffield Furniture
Company purchases a carload of wicker chairs. The manufacturer sells the chairs

During 2020, Sheffield Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sheffield for a lump sum of $65,835 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 440 330 770 Estimated Selling Price Each $90 80 50 During 2020, Sheffield sells 220 lounge chairs, 110 armchairs, and 132 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, 68.78.25 and final answer to decimal places, eg. 5,845) Grossprot realized during 2020 $ 104500 Amount of inventory of unsold straight chairs 65835 Sunland Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Estimated selling price Cost Cost to complete Selling costs Item D $137 86 34 11 Item E $125 91 34 21 Item F $108 91 29 11 Item G $103 91 40 23 Item H $125 57 34 Item $103 41 34 23 11 Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items above, Item $ 126 Item E $ 104 Item F 5 120 item G S 131 Item 5 114 Item $ BO

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