Part Quantity Cost per Unit Net Realizable Value 110 560 $119.00 $125.00 111 1,060 75.00 65.00 112 550 100.00 95.00 113 220 212.50 225.00 120 440 256.00 260.00 121 a 1,700 20.00 1.00 122 290 300.00 294.00 aPart No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2025, by the LCNRV method, applying this method to each item. Inventory as of December 31, 2025 $ (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31, 2025 $