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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

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 Multiple Choice $6,250 ($35,750) ($25,500) ($29,500) Cost per Unit $ 700 Market Value per Unit Quantity $ 725 190 600 605 300 950 820 275

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