The inventory of Met lock Company on December 31, 2020, consists of the following items. Quantity Net Realizable Value Part Cost per Unit ys $113.00 $119.00 110 570 111 970 71.40 62.00 112 540 95.20 90.00 202.30 214.20 113 180 120 380 244.00 248,00 121 a 1,500 19.00 1.00 122 300 285.60 280.00 a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item.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