Exercise 9-14 (Part Level Submission) Skeysong Company uses the gross profit method to estimativentory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 Purchases (gros) Frechen Sales revenue Sales returns Purchase discount $ 162,100 691300 30.800 1,041,700 65.900 12.500 Your wris correct Compute the estimated ventory May 31 ming that the gross proti The estimated inventory at May 31 1960 here to search Compute the estimated inventory at May 31, assuming that the gross profit is 30% of net sales The estimated inventory at May 31 288640 Attemptsi 2 of 3 used Colle qui port (b) Your answer is incorrect. Try again, Compute the estimated inventory at May 31, assuming that the gross profit is 30% of cost. (Round percentage of sales to 6,225.) The estimated invertory at Hay 31 Attempts of 2000 2020 Wiening D ved A y s