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(b) * Your answer is incorrect. What is the amount of inventory of unsold straight chairs on December 31, 2025? (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 87980

(b) * Your answer is incorrect. What is the amount of inventory of unsold straight chairs on December 31, 2025? (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 87980

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During 2025, Tamarisk Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Tamarisk for a lump sum of $125,685 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 840 630 1,470 Estimated Selling Price Each $90 80 50 During 2025, Tamarisk sells 420 lounge chairs, 210 armchairs, and 252 straight chairs.
Transcribed Image Text:During 2025, Tamarisk Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Tamarisk for a lump sum of $125,685 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 840 630 1,470 Estimated Selling Price Each $90 80 50 During 2025, Tamarisk sells 420 lounge chairs, 210 armchairs, and 252 straight chairs.
(b) x Your answer is incorrect. What is the amount of inventory of unsold straight chairs on December 31, 2025? (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 87980
Transcribed Image Text:(b) x Your answer is incorrect. What is the amount of inventory of unsold straight chairs on December 31, 2025? (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 87980
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