Biossom Home Improvement Compamy installs replacementsiding 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 2025. Jim Alcide, controlier for Blossom, has gathered the following data concerning imventory At May 31, 2025, the balance in Blossom's Raw Materiais inventory account was 5436,560. Aicide summarized the relevant inventory cost and market data at May 31.2025, in the schedule below. Acide assigned Patricia Devereawx, an intern from a local college the task of calculating the amount chat should appear on Blossom's May 31, 2025, financiai statements for imventory under the lower-of-cost-or-market rule as applied to each item in inventory. Devereaux epressed concern over departing from the historical cost principle. Consider the following expanded data at May 31 . 2025. Assume Blossom uses UFO inventory costing (a1) Determine the write-down, if amy, to reduce inventory to markat at May 31.2025. Imventoryloss 5 (a2) For the fiscal year ended May 32, 2025, prepare the entry to record the decline in imventory to maricet it any, uaing the loss method. (List all debit entries before credit entries Credit occount titles are outpmaticaly indented when amount is entervi, De not indient manualily. If noentry is required, select "No enty' for the occount titles and enter of for the anounted)