012 E Question 2 of 8 Show Attempt History Current Attempt in Progress Your answer is incorrect. The inventory of Skysong Company on December 31, 2020.consists of the following items. Part 110 111 112 113 120 121 122 Quantity 550 910 450 180 430 1.600 300 Cost per Unit $105.00 66.60 88.80 188,70 228.00 18.00 266.40 Net Realizable Value $111.00 58.00 84.00 199.00 231.00 1.00 261.00 * Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item Inventory as of December 31, 2020 488416 (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory Inventory as of December 31, 2020 360236 e Textbook and Media Attempts: 1 of 3 used Submit Answer Saved work will be submitted on the due date