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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 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 Quantity Market Value per Cost per Unit Unit $7901 $905 6901 785 1,120 690 Rustic Mediterranean Contemporary 370 4801 3651
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