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 an (2) the inventory in aggregate. b. Prepare any necessary journal entries, assuming the decline in value is immaterial, using the (7) individual method and (2) aggrega method. Hagen Metal Works uses the perpetual inventory system. Answer is not complete. Complete this question by entering your answers in the tabs below. 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.) 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 journal entries, assuming the decline in value is immaterial, using the (i) individual method and (2) 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