The following information pertains to Hagen Metal Works' ending inventory for the current year. 7 Item D K M Quantity 200 190 58 44 Unit Cost 51 15 11 Unit Market Value $12 12 13 12 3 points Required eBook 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. Ending Inventory Individual item method Aggregate method Required Required B > Complete this question by entering your answers in the tabs below. 7 Required A Required B 3 points 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 eBook Journal entry worksheet Record entry for cost of goods sold using individual item method. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. 7 Required A Required B 3 points 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 eBook Journal entry worksheet Record entry for cost of goods sold using aggregate method. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal