The inventory of Tamarisk Company on December 31, 2020, consists of the following items. Part Quantity Cost per Unit Net Realizable Value $124.00 $131.00 110 111 570 1,010 450 78.60 68.00 104.80 100.00 210 222.70 235.80 120 380 269.00 272.00 121 a 21.00 1.00 1,600 310 122 314.40 308.00 a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap.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 $