Exercise 5-10A (Algo) Lower-of-cost-or-market rule: perpetual system LO 5-2 The following information pertains to Hagen Metal Works' ending inventory for the current year. Item C D K M Required Quantity 150 140 48 29 Unit Cost $14 16 12 9 Required A Required B 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. 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. Unit Market Value $12 14 13 14 Complete this question by entering your answers in the tabs below. Individual item method Aggregate method 4 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

Exercise 5-10A (Algo) Lower-of-cost-or-market rule: perpetual system LO 5-2 The following information pertains to Hagen Metal Works' ending inventory for the current year. 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. b. Prepare any necessary joumal entries, assuming the decline in value is immaterial, using the (D) individual method and (Z) aggregate method. Hagen Metal Works uses the perpetual inventory system. Complete this question by entering your answers in the tabs below. 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