I have a LG TV, Model #50LN5400-UA , The back light went out a few weeks ago, how do I know which LED Strips need to be replaced? Is it even worth replacing or should I look for a new TV?

It is a common problem for the LG model. The problem
is defective LED back lights ASSY. You have to open the display panel & replace the burned LED strips.

It is a common problem for the LG 42/47 LN series LED TV, the problem is defective LED back lights strip (strips).

You have to open the display panel to find the bad one & replace it. The part number usually is printed on the strips, read 6916L-11XXA, you may purchase it from EBay.

Check and replace damaged component/s at its back-light inverter board, or replace this board as card basis. If you wish to get some details; check the site linked here. Surf the site with patience. Pull up older posts. It will be best to replace the inverter board as card basis.
http://electro-medical.blogspot.com/
http://electronicshelponline.blogspot.com/
To some model sets; especially LED back-lighted types; the back-light inverter circuit will be part of the main power supply board [SMPS]. In such cases, the power supply board might need replacement. To some models sets, the back-light inverter and SMPS section circuit will be integrated at its main board itself. If so; the main board should be replaced. To some models of sets, all these section circuit will be integrated at its main board. If this is the case, you have to replace the main board.

This could be the power supply at 55 dollars or the LED back light strips that are about 80. Unless you know how to test them, it is a toss up. Most of the time it is the led strips though. http://www.shopjimmy.com/lg/55la6200-ua

Back - light problem. Check and replace damaged component/s at its back-light inverter board, or replace this board as card basis. If you wish to get some details; check the site linked here. Surf the site with patience. Pull up older posts. It will be best to replace the inverter board as card basis. http://electro-medical.blogspot.com/
To some model sets; especially LED back-lighted types; the back-light inverter circuit will be part of the main power supply board [SMPS]. In such cases, the power supply board might need replacement. To some models sets, the back-light inverter and SMPS section circuit will be integrated at its main board itself. If so; the main board should be replaced. To some models of sets, all these section circuit will be integrated at its main board. If this is the case, you have to replace the main board...

Check and replace damaged component/s at its back-light inverter board, or replace this board as card basis. If you wish to get some details; check the site linked here. Surf the site with patience. Pull up older posts. It will be best to replace the inverter board as card basis. http://electronicshelponline.blogspot.com/ To some model sets; especially LED back-lighted types; the back-light inverter circuit will be part of the main power supply board [SMPS]. In such cases, the power supply board might need replacement. To some models sets, the back-light inverter and SMPS section circuit will be integrated at its main board itself. If so; the main board should be replaced. To some models of sets, all these section circuit will be integrated at its main board. If this is the case, you have to replace the main board.

Lamp switch is faulty replace the y board

Fault at its main digital board. Short circuited component/s at it. Contact any service technician; or the authorized service center. If you wish to get some details; check the site linked here. Surf the site with patience. Pull up older posts.
http://electronicshelponline.blogspot.com/
In most cases, the main board might have to be replaced. If so, a software [firmware] update too might be necessary.
Before going further; try a hard reset first. If it does not help you, replace the main digital board. There are two methods to reset TVs. The first is simple to do; a Hard Reset. The other is somewhat skilled; is a Factory Reset (System Reset). To make it a hard reset, just unplug the TV from AC mains wall socket, and re-plug it back after 15 minutes or so. If you do this by overnight is better. This procedure will make it a hard reset. If you want to make it a system reset [Factory Reset]; you have to enter its service mode option, and select the factory reset option. If you wish to get some details; visit the site linked here. ..