Question 1 --/1 View Policies Current Attempt in Progress During 2020, Flounder Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Flounder for a lump sum of $95,760 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 Type No. of Chairs Lounge chairs 640 $90 Armchairs 480 80 Straight chairs 1,120 50 During 2020, Flounder sells 320 lounge chairs, 160 armchairs, and 192 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 $ Amount of inventory of unsold straight chairs $ e Textbook and Media