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The inventory of Pina Colada Company on December 31,2023, consists of the following items. - Part No. 121 is obsolete and has a realizable value of $0.20 each as scrap. - Part No. 121 is obsolete and has a realizable value of $0.20 each as scrap. (a) Determine the inventory as at December 31, 2023, using the lower of cost and net realizable value method, applying this method directly to each item. Imventory as at December 31.2023 $ (b) Determine the inventory as at December 31,2023, using the lower of cost and net realizable value method, applying the method to the total of the inventory. Inventory as at December 31,2023$