E$9\mathrm{.}1($LO $1)$ Excel $($LCNRV$)$ The inventory of Oheto Company on December $31,2020,$ consists of the following items.

$\backslash$table$[[$Part$,$Quantity,Cost per Unit,Net Realizable Value$],[110,600,$$ $95,$$$100],[111,1,000,60,52],[112,500,80,76],[113,200,170,180],[120,400,205,208],[{121}^a,1,600,16,1],[122,300,240,235]]$

${?}^a$ Part No$.121$ is obsolete and has a realizable value of $$1$ each as scrap.

Instructions

a$.$ Determine the inventory as of December $31,2020,$ by the LCNRV method, applying this method to each item.

b$.$ Determine the inventory by the LCNRV method, applying the method to the total of the inventory.