Determine the proper balance in Allowance to Reduce Inventory to NRV at May 31, 2017. Balance in the Allowance to Reduce Inventory to NRV Ivanhoe 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, 2017. Jim Alcide, controller for Ivanhoe, has gathered the following data concerning inventory.

At May 31, 2017, the balance in Ivanhoes Raw Materials Inventory account was $444,720, and Allowance to Reduce Inventory to NRV had a credit balance of $27,340. Alcide summarized the relevant inventory cost and market data at May 31, 2017, in the schedule below.

Alcide assigned Patricia Devereaux, an intern from a local college, the task of calculating the amount that should appear on Ivanhoes May 31, 2017, financial statements for inventory under the LCNRV rule as applied to each item in inventory. Devereaux expressed concern over departing from the historical cost principle.

Cost	Sales Price	Net Realizable Value
Aluminum siding	$76,300	$69,760	$61,040
Cedar shake siding	93,740	102,460	92,432
Louvered glass doors	122,080	203,176	183,447
Thermal windows	152,600	168,732	152,600
Total	$444,720	$544,128	$489,519

Determine the proper balance in Allowance to Reduce Inventory to NRV at May 31, 2017.