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 LineCost per UnitMarket Value per UnitQuantityRustic$700 $725 190Mediterranean 600 605 300Contemporary 950 820 275
A. ($35,750)
B. ($29,500)
C. ($25,500)
D. $6,250
Answer: A
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