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B. Sparks Furniture Company carries three lines of sofas. Information about the sofa inventory as of the end of its most recent fiscal year follows.
B. Sparks Furniture Company carries three lines of sofas. Information about the sofa inventory as of the end of its most recent fiscal year follows. If LCM/NRV is applied to each separate product line, what is the amount of the adjustment that must be made to the company's inventory? Product Line Rustic Mediterranean Contemporary Cost per Unit $ 755 655 1,005 Market Value per Unit Quantity $835 300 715 410 710 330 Multiple Choice $48,600 a (597,350) ($24.7501 (5487509
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