"Nash 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 31.2020. Jim Alcide, controller for Nash, has gathered the following data concerning inventory. At May 31, 2020, the balance in Nash's Raw Materials Inventory account was $485 520, and Allowance to Reduce Inventory to NRV had a credit balance of $27,670. Alcide summarized the relevant inventory cost and market data at May 31, 2020, in the schedule below. Alcide assigned Patricia Devereaux, an intern from a local college, the task of calculating the amount that should appear on Nash's May 31, 2020, 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 $83,300 $76,160 $66,640 Cedar shake siding 102.340 111,860 100,912 Louvered glass doors 133.280 221816 200,277 Thermal windows 166,600 184,212 166,600 Total $485.520 $594,048 $534429 (a) Determine the proper balance in Allowance to Reduce Inventory to NRV at May 31, 2020, Balance in the Allowance to Reduce Inventory to NRV