The following information pertains to Hagen Metal Works' ending inventory for the current year. Unit Market Item C Quantity 130 Unit Cost Value $12 $10 D 120 14) 12 K 44 10 11 23 7 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 Complete this question by entering your answers in the tabs below. Required A Required 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 Required A Required 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 < 2 Record entry for cost of goods sold using individual item method. Note: Enter debits before credits. Event: General Journal Debit Credit Record enby Clear entry View general journal Required A Required 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 < 1 b Record entry for cost of goods sold using aggregate method. Note: Enter debits before credits Event 2 General Journal Debit Credit Record entry Clear entry View general journal