Required information [The following information applies to the questions displayed below.] Armstrong Corporation manufactures bicycle parts. The company currently has a $19,900 inventory of parts that have become obsolete due to changes in design specifications. The parts could be sold for $7,400, or modified for $10,400 and sold for $21,100. Required: 1. Identify the relevance of the data given in the exercise to the decision about what to do with the obsolete parts