Question 4 of 8 < > The inventory of Bridgeport Company on December 31, 2023, consists of the following items. Part No. Quantity Cost per Unit NRV 110 590 $70 $110 111 1,000 60 50 112 470 80 66 113 220 150 190 120 450 195 208 121 1,440 14 0.20 122 400 240 235 0/4 !!! *Part No. 121 is obsolete and has a realizable value of $0.20 each as scrap.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 279088 ... (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 $ +A 294688