1 why my answer is wrong

Buffalo Home Improvement Company installs replacement siding, windows, and louvered glass doors for single-family homes and condominium complexes. The company is in the process of preparing its annual nancial statements for the scal year ended May 31, 2020. Jim Alcide, controller for Buffalo, has gathered the following data concerning inventory. At May 3 1, 2020, the balance in Buffalo's Raw Materials Inventory account was $435,520, and Allowance to Reduce Inventory to Market had a credit balance of $27,470. Alcide summarized the relevant inventory cost and market data at May 3 1, 2020, in the schedule below. Alcide assigned Patricia Devereaux, an intern from a local college, the task of calculating the amount that should appear on Buffalo's May 3 1, 2020, nancial statements for inventory at lower-of-cost-or-market as applied to each item in inventory. Devereaux expressed concern over departing from the historical cost principle. Assume Garcia uses LIFO inventory costing. Net Replacement Realizable Normal Cost Cost Sales Price Value Prot Aluminum siding $33,300 $74,375 $76,160 $66,640 $6,069 Cedar shake siding 102,340 94,436 111,360 100,912 3,306 Louvered glass doors 133,230 147,560 221,316 200,277 22,015 Thermal windows 166,600 149,940 134,212 166,600 13,326 Total $435,520 $466,361 $594,043 $534,429 $55,216 [a 1} Determine the proper balance in Allowance to Reduce Inventory to Market at May 31, 2020. Balance in the Allowance to Reduce Inventory to Market $ 23662 [32} For the scal year ended May 31, 2020. determine the amount of the gain or loss that would be recorded due to the change in Allowance to Reduce Inventory to Market. The amount of the gain [loss] $ 3803