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 Headland's Raw Materials Inventory account was $444,720. 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 Headland's May 31, 2025, financial statements for inventory under the lower-of-cost-or-market rule