The following pertains to hagen metal works ending inventory for the current year.

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 aggregate.

b. Prepare any necessary journal entries, assuming the decline is immaterial, using the 1) individual method and 2) aggregate method. Hagen metal works uses the perpetual inventory system.

The following information pertains to Hagen Metal Works' ending inventory for the current yeat, 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 joumal 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 tibs below. 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. Frep are amy necessary foumei entries, assuming the deciline in value is immaterial, using the (1) indivisual method and (2) assregate method. 14gon Metal Works uses the perpetual inventery system, (If no entey is reculred for a transectionjevert, select tis fournat eatived hictired" in thet fint account feldi) Journal entry worksheet Record entry for cost of goods sold using individuat item method