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During 2020, Concord Furniture Limited purchased a railway
carload of wicker chairs. The manufacturer of the chairs sold them
to Concord for a lump sum of $58,100, because it was discontinuing
manufacturing operations and wanted 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 as follows:
Type
No. of Chairs
Estimated Selling
Price per Chair
Lounge chairs
500
$97
Straight chairs
650
57...
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During 2020, Monty Furniture Limited purchased a railway carload
of wicker chairs. The manufacturer of the chairs sold them to Monty
for a lump sum of $58,600, because it was discontinuing
manufacturing operations and wanted 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 as follows:
Type
No. of Chairs
Estimated Selling
Price per Chair
Lounge chairs
470
$93
Straight chairs
640
53...
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During 2020, Whispering Furniture Company purchases a carload of
wicker chairs. The manufacturer sells the chairs to Whispering for
a lump sum of $83,790 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
No. of Chairs
Estimated Selling
Price Each
Lounge chairs
560
$90
Armchairs
420
80
Straight chairs
980
50
During...
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During 2020, Sage Furniture Company purchases a carload of
wicker chairs. The manufacturer sells the chairs to Sage for a lump
sum of $47,880 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
No. of Chairs
Estimated Selling
Price Each
Lounge chairs
320
$90
Armchairs
240
80
Straight chairs
560
50
During...
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During 2020, Pina Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Pina for a lump sum of $143,640 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 960 $90 Armchairs 720 Straight chairs 1,680 During 2020, Pina...
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During 2020, Teal Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Teal for a lump sum of $143,640 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 960 $90 Armchairs 720 80 Straight chairs 1,680 During 2020,...
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During 2020, Flounder Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Flounder for a lump sum of $77,805 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 520 $90 Armchairs 390 80 Straight chairs 910 During 2020,...
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During 2020, Pharoah Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Pharoah for a lump sum of $113,715 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 720 $90 Armchairs 540 80 Straight chairs 1,260 50 During...
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During 2020, Blue Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Blue for a lump sum of $137,655 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 920 $90 Armchairs 690 Straight chairs 1,610 During 2020, Blue...
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During 2020, Carla Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Carla for a lump sum of $149,625 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 1,000 $90 Armchairs 750 Straight chairs 1,750 During 2020, Carla...
During 2020, Pina Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Pina for a lump sum of $143,640 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 960 $90 Armchairs 720 Straight chairs 1,680 During 2020, Pina...
During 2020, Teal Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Teal for a lump sum of $143,640 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 960 $90 Armchairs 720 80 Straight chairs 1,680 During 2020,...
During 2020, Flounder Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Flounder for a lump sum of $77,805 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 520 $90 Armchairs 390 80 Straight chairs 910 During 2020,...
During 2020, Pharoah Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Pharoah for a lump sum of $113,715 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 720 $90 Armchairs 540 80 Straight chairs 1,260 50 During...
During 2020, Blue Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Blue for a lump sum of $137,655 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 920 $90 Armchairs 690 Straight chairs 1,610 During 2020, Blue...
During 2020, Carla Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Carla for a lump sum of $149,625 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 1,000 $90 Armchairs 750 Straight chairs 1,750 During 2020, Carla...