Exercise 9-1 The inventory of Bonita Company on December 31, 2017, consists of the following items Part Quantity Cost per Unit 110 Net Realizable Value 640 1,100 450 190 410 1,700 320 $126 80 106 226 273 21 319 $133 69 101 239 277 112 113 120 121a 122 313 a Part No. 121 is obsolete and has a realizable value of $1 each as scrap (a) Determine the inventory as of December 31, 2017, by the LCNRV method, applying this method to each item Inventory as of December 31, 2017 (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory Inventory as of December 31, 2017 Click if you would like to Show Work for this question: Open Show Work