Headland 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 Headland, has gathered the following data concerning inventory. At May 31, 2025, the balance in Headlands Raw Materials Inventory account was $481,440. 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 college, the task of calculating the amount that should appear on Headlands May 31, 2025, 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 $82,600 $75,520 $66,080 Cedar shake siding 101,480 110,920 100,064 Louvered glass doors 132,160 219,952 198,594 Thermal windows 165,200 182,664 165,200 Total $481,440 $589,056 $529,938