Compute the estimated inventory at May 31, assuming that the gross profitis 25% of cost. (Round percentage of sales to 2 decimal places, c.9. 78.74% and final answer to decimal places, es 6,225) The estimated inventory at May 31 $ Vaughn 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 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts $ 174,600 607,000 29,300 983,300 67.700 12,700