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?

I don't understand how you get the answer so if you could explain the steps you used to get there that would help.

Product Line	Cost per Unit			Market Value per Unit			Quantity
Rustic	$	750		$	825		290
Mediterranean		650			705		400
Contemporary		1,000			700		325

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 $ 750 650 1,000 Market Value per Unit Quantity $825 290 705 400 700 325 Multiple Choice ($53,750) ($97,500) ($32,000) O O $43,750