"Part No. 121 is obsolete and has a realizable value of $0.20 each as scrap.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, applving this method directly to each item. -Part No, 121 is obsolete and has a realizable value of $0.20 each as scrap. (a) Determine the inventory as at December 31,2023 , using the lower of cost and net realizable value method, applying this method directly to each item. Inventory as at December 31,2023$ (b) Determine the irventory 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