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

B. $156,600

Explanation:

The computation of the amount for adjustment made to the inventory for the company is shown below:          

Product LineCost per unitMarket value per unitLower of Market value or CostCost or Market valueDiff per unitQtyAdjustment Required

Rustic   $785   $895  $785  Cost value No adjustment required as cost is lower

Mediterranean $685  $775  $685  Cost value No adjustment required as cost is lower

Contemporary $1,115  $680  $680 Market value $435  360  $156,600

Since in the contemporary product line the market value per unit is lower than the cost per unit so we take the difference and then multiply the quantity so the value comes is $156,600

if kj of heat is transferred o 1200 g liquid water at 36'c, what would the new temperature of the water be? (he specific heat capacity of liquid water is 4.186 j/g''c)

a. 15'c

b.100'c

c.51'c

d.36'c

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know