Part 2: Lower-of-Cost-or-Market Value Assume Garcia uses LIFO inventory costing, and that the Allowance to Reduce Inventory to NRV had a credit balance of $27,500 on May 31, 2017 before adjustment. Net Replacement Cost Realizable Normal Profit Cost Sales Price Value Aluminum siding Cedar shake siding Louvered glass doors Thermal windows Total $ 70,000$ 62,500 79,400 124,000 126,000 84,800 168,300 154,800 140,000 $408,000 391,900 $ 499,200 S 449,100 86,000 112,000 140,000 64,000 S 56,000 S 5,100 7,400 18,500 15,400 46,400 94,000 186,400 (a) Determine the proper balance in Allowance to Reduce Inventory to Market at May 31, 2017 (b) For the fiscal year ended May 31, 2017, determine the amount of the gain or loss that would be recorded due to the change in Allowance to Reduce Inventory to Market