Iyanhoe Home Improvement Company installs replacement siding, windows, and louvered glass doors for single-family homes and 2025. Jin Alcide, controller foe Ivanhoe, has gathered the following data concerning inventory. At May 31,2025, the balance in Ivanhoe's Raw Materials Inventory account was $412,080. Alcide stmmarized 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 Ivanhoe's May 31. 2025, financial statements for inventory under the lower-of-cost-or-market rule as applied to eachitem in inventory Devereaux expressed concern over departing from the historical cost principle Consider the foltowing expanded data St May 31 , 2025. Assume Ivanhoe uses LIFO inventory costing. (a1) Determine the write-down, if any, to reduce inventory to market at May 31, 2025. Inventoryloss $ (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 occount titles are outomatically 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.)