The inventory of Skysong Company on December 31, 2020, consists of the following items. Part Quantity Net Realizable Value 110 $111.00 550 910 Cost per Unit $105.00 66.60 88.80 111 58.00 450 84.00 113 180 188.70 199.80 120 430 228.00 231.00 121 - 18.00 1.00 1,600 300 122 266.40 261.00 Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap, (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item.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 $