Exercise 8-21 Partially correct answer. Your answer is partially correct. Try again. The inventory of Bridgeport Company on December 31, 2017, consists of the following items. Part No. Quantity Cost per Unit NRV 110 670 $80 $120 111 1,030 60 52 112 400 80 56 113 280 160 190 120 490 195 218 121 * 1,600 13 0.2 122 480 260 245 *Part no. 121 is obsolete and has a realizable value of $0.2 each as scrap. (a) Determine the inventory as at December 31, 2017, by the lower of cost and net realizable value method, applying this method directly to each item. Inventory as at December 31, 2017 $Entry field with correct answer (b) Determine the inventory as at December 31, 2017, by the lower of cost and net realizable value method, applying the method to the total of the inventory. Inventory as at December 31, 2017 $Entry field with incorrect answer