The inventory of Marigold Company on December 31, 2020, consists of the following items. Part Quantity Cost per Unit Net Realizable Value 110 650 $102.00 $107.00 1,050 64.20 56.00 81.00 490 85.60 210 181.90 192.60 219.00 223.00 1,800 17.00 1.00 290 256.80 251.00 a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap.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 $ (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory $ Inventory as of December 31, 2020