The inventory of Martinez Company on December 31, 2017, consists of the following items.

Part			Quantity		Cost per Unit		Net Realizable Value
110			660		$138		$145
111			1,030		87		75
112			520		116		110
113			180		247		261
120			370		297		302
121	a		1,700		23		1
122			320		348		341

^a Part No. 121 is obsolete and has a realizable value of $1 each as scrap. (a) Determine the inventory as of December 31, 2017, 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, 2017

$