Exercise 9-1 The inventory of Cullumber Company on December 31, 2017, consists of the following items Net Realizable Value Part Quantity Cost per Unit 110 112 113 120 121a 122 660 1,040 540 210 410 1,700 280 $128 81 108 230 277 $135 70 103 243 281 324 317 a Part No. 121 is obsolete and has a realizable value of $1 each as scrap.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 s (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31, 2017 s