The following information pertains to Hagen Metal Works ending inventory for the current year: Unit Unit Item Quantity Cost Market Value C 200 $ 13 $ 12 D 190 15 12 K 58 11 13 M 44 8 12 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 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.)