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3. a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31,

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a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item. Inventory as of December 31,2020$ (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31,2020$

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