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 Cost per Unit Market Value per Unit Quantity
Rustic $785 $895 360
Mediterranean 685 775 470
Contemporary 1,115 680 360
A. $81,900
B. $156,600
C. $35,100
D. $74,700
Answers: 1
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