Flounder 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		$ 145,400
Purchases (gross)		658,600
Freight-in		27,700
Sales revenue		990,600
Sales returns		76,300
Purchase discounts		11,900

Compute the estimated inventory at May 31, assuming that the gross profit is 35% of cost. (Round percentage of sales to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.)

The estimated inventory at May 31

$