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Please explain step by step please 144) Sparks Furniture Company carries three lines of sofas. Information about the sofa inventory as of the end of
Please explain step by step please
144) 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 Cost per Unit $ 705 Market Value per Unit $ 735 Quantity 200 Mediterranean 605 615 310 Contemporary 955 830 280 A) $9,100 B_($35,000) C) ($19,900) D) $25,900)Step by Step Solution
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