Yes, this will work on any CIS system as far as I know.
First unplug the O2 sensor which is located in the right exhaust pipe near the manifold. The engine should still start and run.
Remove the air cleaner assembly. Located between the air intake and the fuel dist is an adjustment hole. It MAY have a plug in the top of it which will need to be removed. Using a 3 mm allen wrench, turn the adjustment screw (which you can't see, it is about 2 in down in the hole.) Turn it CCW to lean it out, and CW to richen it up. Now using the carb cleaner, spray a very,very small amount in the air intake. If it speeds up, it is running lean and can be richened up a little. Be carefull and don't turn the adjustment screw very much, maybe 1/16 turn or less each time. It is very sensitive. If the engine rpm drops a little when the carb cleaner is sprayed in, then it is running rich and you can turn the adjustment CCW to lean it down just a little. Repeat this process until there is very little change or speeding up just a slight amount. Reconnect the O2 sensor. Again with the engine warmed up, try spraying the carb cleaner again. There probably will be a change but it shouldn't be much of one. If it runs worse with the sensor connected (very rich or very lean) then it may be time for some serious computer diagnostics.
Now Keep in mind, this proceedure is assuming every thing else is working as it should. Some problems could be covered up by making this adjustment and probably will continue to cause problems like poor mileage, other running problems, etc. So if you have a problem that just started, it is probably not going to be fixed by adjusting the mixture. Mixture usually doesn't change quickly, but over a long period of time from engine wear, etc. (that is unless someone has been working on it and adjusting it when it didn't need to be.) Also when other parts are replaced such as pressure regulators or possibly even exhaust components it may need to be touched up.
If all goes well, replace the air cleaner (making sure it is clean) and you are done.
By the way, it will probably take you longer to read this than to do it.

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84 500 SEL (307,xxx miles)