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 $440,640, and Allowance to Reduce Inventory to Market had a credit balance of $28,620. Aloide 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 at lower-of-cost-of-market as applied to each item in inventory. Devereaux expressed concern over departing from the historical cost principle. Assume Garcia uses LIFO Inventory costing Replacement Net Realizable Cost Cost Sales Price Value Normal Profit Aluminum siding $75,600 $67,500 $69,120 $60,480 $5,508 Cedar shake siding 92.880 85,752 101,520 91,584 7,992 Louvered glass doors 120,000 133,920 201,312 181,764 19,980 Thermal Windows 151,200 136,080 167,184 151,200 16.632 Total 1440,640 $423.252 $589,16 $485,028 $50,112 (al) Determine the proper balance in Allowance to Reduce Inventory to Market at May 31, 2020 Balance in the Allowance to Reduce Inventory to Market (22) For the fiscal year ended May 31, 2020, determine the amount of the gain or loss that would be recorded due to the change in Allowance to Reduce Inventory to Market The amount of the gain (loss)