Exercise 9-14 (Part Level Submission) Nash 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 $ 149,100 683,200 28,700 998,600 76,500 11,000 Sales returns Purchase discounts (a) Compute the estimated inventory at May 31, assuming that the gross profit is 35% of net sales. The estimated inventory at May 31 $ Click if you would like to Show Work for this question: Open Show Work Attempts: 0 of 5 used SAVE FOR LATER SUBMIT ANSWER (b) The parts of this question must be completed in order. This part will be available when you complete the part above