+ Ch 9 Homework Question 5 of 7 - /15 View Policies Current Attempt in Progress Headland Company uses the gross pront method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $ 171.100 Purchases (gross) 686 700 Frelshtin 28.700 Sales revenue 1,067.400 Sales returns 63,300 Purchase discounts 11.300 Compute the estimated Inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated inventory at May 31 $