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Current Attempt in Progress The inventory of Sheridan Company on December 31.2025, consists of the following items. 2Part No, 121 is obsolete and has a

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Current Attempt in Progress The inventory of Sheridan Company on December 31.2025, consists of the following items. 2Part No, 121 is obsolete and has a realizable value of $1.00 each as rcrap. (a) Determine the imventory as of December 31,2025 , by the LCNRV method, applying this method to each item. Imentory as of December 31,2025 (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31, 2025

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