determine the write-down, if any, to reduce inventory to market at May 31, 2025

Whispering 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. 2025. Jim Alcide, controller for Whispering, has gathered the following data concerning inventory. At May 31, 2025, the balance in Whispering's Raw Materials Inventory account was $456,960. Alcide summarized the relevant inventory cost and market data at May 31, 2025, in the schedule below. Alcide assigned Patricia Devereaux, an intern from a local collegc, the task of calculating the amount that should appear on Whispering's May 31, 2025. financial statements for inventory under the lower-of-cost-or-market rule as applied to each item in inventory. Devereaux expressed concern over departing from the historical cost principle. Consider the following expanded data at May 31, 2025. Assume Whispering uses LiFO inventory costing