The following information pertains to Hagen Metal Work's ending inventory for the current year: Unit Cost 14 16 12 Unit Quantity 270 260 72 65 Item Market Value 11 15 15 15 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 Ending Invento Individual item method Aggregate method 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.)