The following information pertains to Hagen Metal Works ending inventory for the current year:

				Unit				Unit
Item	Quantity			Cost				Market Value
C		250			$	12			$	9
D		240				14				13
K		68				10				13
M		59				7				13

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.