Chapter 5 value: 10.00 points The following information pertains to Hagen Metal Work's ending inventory for the current year: Unit Market Value $ 16 20 28 17 Quantity 90 75 40 Unit Cost $24 tem 25 15 Required a. Determine the value of the ending inventory using the lower-of-cost-or-market rule applied to (1) each individual inventory item and (2) the inventory in aggregate. Ending Inventory Individual item method 4,270 4.434 Aggregate method b. Prepare any necessary journal entries, assuming the decline in value is immaterial, using the (1) individual method and (2) aggregate method. Hagen Metal Works uses the perpetual inventory system (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal