FlintCompany uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May.

Inventory, May 1 $161,900

Purchases (gross) 697,000

Freight-in 31,400

Sales revenue 924,000

Sales returns 73,200

Purchase discounts 12,100

Compute the estimated inventory at May 31, assuming that the gross profit is25% of net sales.

The estimated inventory at May 31 $

enter the dollar amount of the estimated inventory at May 31