5.

Grouper Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Compute the estimated inventory at May 31 , assuming that the gross profit is 25% of net sales. The estimated inventory at May 31 $ Compute the estimated inventory at May 31, assuming that the gross profit is 25% of cost. (Round percentage of sales to 2 decimal places, e.g. 78.74\% and final answer to 0 decimal places, e.g. 6,225.) The estimated inventory at May 31 $ eTextbook and Media