The inventory of Blue Company on December 31, 2020, consists of the following items. Part Quantity Cost per Unit Net Realizable Value $136.00 110 111 610 920 $143.00 74.00 85.80 460 114.40 109.00 243.10 257.40 210 410 293.00 297.00 121 23.00 1.00 1500 320 122 343.20 336.00 Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2020, 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, 2020 $