Problem 9-2 (Part Level Submission) Stellar 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, 2017. Jim Alcide, controller for Stellar, has gathered the following data concerning inventory At May 31, 2017, the balance in Stellar's Raw Materials Inventory account was $448,800, and Allowance to Reduce Inventory to NRV had a credit balance of $27,710 Alcide summarized the relevant inventory cost and market data at May 31, 2017, in the schedule below Alcide assigned Patricia Devereaux, an intern from a local college, the task of calculating the amount that should appear on Stellar's May 31, 2017, 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 Aluminum siding Cedar shake siding Louvered glass doors Thermal windows Cost $77,000 94,600 123,200 154,000 $448,800 Sales Price $70,400 103,400 205,040 170,280 $549,120 Net Realizable Value $61,600 93,280 185,130 154,000 $494,010 Total (a) Determine the proper balance in Allowance to Reduce Inventory to NRV at May 31, 2017 Balance in the Allowance to Reduce Inventory to NRV