Ayayai 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 financial statements for the fiscal year ended May 31, 2020. Jim Alcide, controller for Ayayai, has gathered the following data concerning inventory. At May 31, 2020, the balance in Ayayai's Raw Materials Inventory account was $436,560, and Allowance to Reduce Inventory to Market had a credit balance of $29,710. Alcide summarized the relevant inventory cost and market data at May 31, 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 Ayayai's May 31, 2020, financial 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 Replacement Cost Net Realizable Sales Price Value Normal Profit Cost Aluminum siding Cedar shake siding Louvered glass doors $74,900 $66,875 84,958 $68,480 100,580 $59,920 90,736 $5,457 92,020 7,918 119,840 132,680 199,448 180,081 19,795 165,636 $534,144 Thermal windows 134,820 $419,333 149,800 149,800 $480,537 16,478 Total $436,560 $49,648 (a1) Determine the proper balance in Allowance to Reduce Inventory to Market at May 31, 2020. Balance in the Allowance to Reduce Inventory to Market (a2) For the fiscal 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)