AC 201 Homework. The following information pertains to Hagen Metal Works' ending inventory for the current year. Item K M Required Quantity 230 220 64 53 Required A Unit Cost $10 12 8 5 Required B Unit Market Value $7 a. Determine the value of the ending inventory using the lower-of-cost-or-market rule applied to (1) each individual (2) the inventory in aggregate. b. Prepare any necessary journal entries, assuming the decline in value is immaterial, using the (1) individual metho method. Hagen Metal Works uses the perpetual inventory system. 11 11 Complete this question by entering your answers in the tabs below.

Journal entry worksheet Record entry for cost of goods sold using individual item method. Note: Enter debits before credits. Journal entry worksheet Record entry for cost of goods sold using aggregate method. Note: Enter debits before credits. Journal entry worksheet Record entry for cost of goods sold using individual item method. Note: Enter debits before credits. Journal entry worksheet Record entry for cost of goods sold using aggregate method. Note: Enter debits before credits