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

Part			Quantity		Cost per unit			Net Realizable Value
A419			7,800		$19			$33
A435			6,630		14			11
A545			15,756		12			19
A615			11,700		17			12
A721			17,160		16			17
A885			21,840		25			31
A999	a		14,352		11			2

^a Part No. A999 is obsolete and has a realizable value of $2 each as scrap.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

$__________