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The inventory of Splish Company on December 31, 2025, consists of the following items. aPart...

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Accounting

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The inventory of Splish Company on December 31, 2025, consists of the following items. aPart No. 121 is obsolete and has a realizable value of $1.00 each as scrap.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

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