During 2022, Bridgeport Furniture Company a carload of wicker chairs. The manufacturer sells the chairs to Bridgeport for a lum of £89,775 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chairs a 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 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 2022, Bridgeport Furniture Company a carload of wicker chairs. The manufacturer sells the chairs to Bridgeport for a lum of £89,775 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chairs a 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 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 £ £

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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