Wildhorse 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 Wildhorse, has gathered the following data concerning inventory At May 31, 2017, the balance in Wildhorse's Raw Materials Inventory account was $501,840, and Allowance to Reduce Inventory to Market had a credit balance of $29,360. Alcide summarized the relevant inventory cost and market data at May 31, 2017, in the schedule belovw Alcide assigned Patricia Devereaux, an intern from a local college, the task of calculating the amount that should appear on Wildhorse's May 31, 2017, financial statements for inventory at lower-of-cost-or-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 Cost Aluminum siding Cedar shake siding Louvered glass doors Thermal windows Cost $86,100 $76,875 105,780 137,760 152,520 172,200 154,980 Sales Price $78,720 115,620 229,272 190,404 5614,016 Net Realizable Value $68,880 104,304 207,009 172,200 552,393 Normal Profit $6,273 9,102 22,755 18,942 $57,072 97,662 Total $501,840 $482,037 (a1) Determine the proper balance in Allowance to Reduce Inventory to Market at May 31, 2017 Balance in the Allowance to Reduce Inventory to Market (a2) 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. The amount of the gain (loss)