Show Attempt History Current Attempt in Progress Sweet 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 Sweet, has gathered the following data concerning inventory. At May 31, 2020, the balance in Sweet's Raw Materials Inventory account was $489,600, and Allowance to Reduce Inventory to NRV had a credit balance of $27.280. 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 Sweet'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. Show transcribed i Expert Answe Anonymous answer 852 answers Aluminium Sliding Cedar Shake Siding Leuvered Glass Door Thermal Windows Cost Sales Price Net Realizable Value Aluminum siding $84.000 $76.800 $67,200 Cedar shake siding 103.200 112,800 101.760 Louvered glass doors 134,400 223.680 201,960 Thermal windows 168,000 185.760 168,000 Total $489,600 $599,040 $538,920 in the owance to de