The following information pertains to Hagen Metal Works' ending inventory for the current year. Unit Market Item Quantity 130 Unit Cost Value $12 $10 D 120 14 12 K 44 10 11 M 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 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. Individual item method Aggregate method Ending Inventory