Bridgeport Company Limited, which follows ASPE, uses the gross profit method to estimate inventory for monthly reports. Information follows for the month of May:

Inventory, May 1		$	368,000
Purchases			725,000
Freightin			51,000
Sales			1,270,000
Sales returns			75,900
Purchase discounts			11,700

Calculate the estimated inventory at May 31, assuming that the gross profit is 25% of sales.

Estimated inventory, May 31

$

Calculate the estimated inventory at May 31, assuming that the markup on cost is 25%.

Estimated inventory, May 31

$