Bridgeport Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $146,400 Purchases (gross) 581.500 Freight-in 27,800 Sales revenue 917,100 Sales returns 69,300 Purchase discounts 12.200 (a) Compute the estimated inventory at May 31, assuming that the gross profit is 25% of sales. The estimated inventory at May 31 $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer