Current Attempt in Progress Splish 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 $ 146,400 581,500 27,800 917,100 69,300 12.200 x Your answer is incorrect Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated inventory at May 31$ 172010 e Textbook and Media X Your answer is incorrect Compute the estimated inventory at May 31, assuming that the gross profit is 25% of cost. (Round percentage of sales to 2 decimal placeses. 78.74% and final answer to decimal places, eg. 6,225) The estimated inventory at May 31 S e Textbook and Media