Exercise 9-14 (Part Level Submission) Buffalo Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. $146,400 581,500 27,800 917,100 69,300 2,200 Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts Compute the estimated inventory at May 31, assuming that the gross profit is 25% of cost. Round percentage of sales to 2 deci al places, e g 78.74% and final answer to 0 decimal places, e 6,225 The estimated Inentory at May 31