The following information pertains to Hagen Metal Work's ending inventory for the current year: Item Quantity 210 200 Unit Cost $ 14 Unit Market Value $ 13 47 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 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 Journal entry worksheet Record entry for cost of goods sold using aggregate method. Note: Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general journal