CES CALCULATOR Exercise 9-14 Riverbed 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 $ 165,300 Purchases (gross) 619,800 Freight-in 30,100 Sales revenue 940,100 Sales returns 58,700 Purchase discounts 11,600 Compute the estimated Inventory at May 31, assuming that the gross prot 40% of net sales The estimated inventory at May 31 and in a Compute the estimated inventory at May 31, assuming that the gross protis 40of cost. (Round percentage of sales to 2 decimal places 6.225. The estimated inventory at May 31 Work Click if you would like to Show Work for this