Sparks Furniture Company carries three lines of sofas. Information about the sofa inventory as of the...

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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 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 Cost per Unit Market Value per Unit Quantity Rustic $735 $795 Mediterranean 635 675 Contemporary 985 720 $30,400 ($82,150) ($36,150) ($51,750) O None of the above. 260 370 310 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 Cost per Unit Market Value per Unit Quantity Rustic $735 $795 Mediterranean 635 675 Contemporary 985 720 $30,400 ($82,150) ($36,150) ($51,750) O None of the above. 260 370 310