Butfalo Home Improvement Company installs replacement siding, windows, and touvered glass doors for single-family homes and condominium complexes. The compsiny is in the process of preparing its innual firancial statements for the fiscal year ended May 31. 2025. Jim Alcide. controller for Butfalo, has gathered the following data concerning inventory At May 31,2025, the balance in Buffals Raw Materials inventory account was $416,100. Acide summarized the relevant inventory cost and market data at May 31,2025 , in the schedule below: Alcide assigned Patricla Devereaux, an intern from a local college, the task of calculating the amount that should appear on Buffalo's May 31, 2025, financlal statements for inventory under the lower-of-cost-or-market rule as applied to each item in inventory. Devereaux expressed concem over departing from the historical cost principle. Consider the following expanded data at May 31. 2025. Assume Buffalo uses LIFO imventory costing. (a1) Determine the write-down, if any, to reduce inwentory to market at May 31, 2025. (a2) For the fiscal year ended May 31,2025, prepare the entry to record the decline in inventory to market, if any, using the loss method. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.)