Crane 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		$ 158,100
Purchases (gross)		665,400
Freight-in		29,700
Sales revenue		937,900
Sales returns		69,300
Purchase discounts		12,900

(a)

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

The estimated inventory at May 31

$enter the dollar amount of the estimated inventory at May 31