The inventory of Wildhorse Company on December 31, 2017, consists of the following items Part Quantity Cost per Unit 110 Net Realizable Value 112 113 120 121a 122 650 1,000 510 220 380 1,500 310 $109 69 92 196 236 18 276 $115 60 87 207 239 270 a Part No. 121 is obsolete and has a realizable value of $1 each as scrap.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