The inventory of Vaughn Company on December 31, 2025, consists of the following items. Net Realizable Part Quantity Cost per Unit Value 110 650 $123.00 $129.00 111 1,010 77.40 67.00 112 470 103.20 98.00 113 190 219.30 232.20 120 390 264.00 268.00 121 1,700 21.00 1.00 122 270 309.60 303.00 "Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2025, by the LCNRV method, applying this method to each item. Inventory as of December 31, 2025 $ (b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory. Inventory as of December 31, 2025 $