The inventory of Concord Company on December 31, 2020, consists of the following items.

Part			Quantity		Cost per Unit		Net Realizable Value
110			550		$104.00		$109.00
111			1,060		65.40		57.00
112			530		87.20		83.00
113			180		185.30		196.20
120			400		223.00		227.00
121	a		1,700		17.00		1.00
122			320		261.60		256.00

^a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap.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, 2020

$enter the Inventory as of December 31 in dollars

(b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory.

Inventory as of December 31, 2020

$enter the Inventory as of December 31 in dollars