The inventory of Cullumber Company on December 31, 2020, consists of the following items. Cost per unit Net Realizable Value $33 11 Part A419 A435 A545 A615 A721 A885 Quantity 7,800 6,630 15,756 11.700 17.160 21,840 14,352 $19 14 12 17 19 16 12 17 31 25 11 A9992 2 Part No. A999 is obsolete and has a realizable value of $2 each as scrap.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 $ (b) Determine the Inventory by the LCNRV method, applying the method to the total of the inventory Inventory as of December 31, 2020 $