Practice Exercise 9-1 The inventory of Sandhill Company on December 31, 2017, consists of the following items. Net Realizable Value Cost per Part Quantity unit A419 A435 A545 A615 A721 A885 12,880 15.00 A999 a 4,600$11.00 3,910 8.00 7.00 6,900 10.00 9.00 $19.00 6.00 11.00 7.00 10.00 18.00 1.00 9,292 10,120 8,464 6.00 a Part No. A999 is obsolete and has a realizable value of $1 each as scrap (a) Determine the inventory as of December 31, 2017, by the LCNRV method, applying this method to each item.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 s