Metlock 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 Sales returns Purchase discounts $ 171,200 596,600 28,400 957.000 64,700 12,300 x Your answer is incorrect. Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated inventory at May 31 $ e Textbook and Media Your answer is incorrect. Compute the estimated inventory at May 31, assuming that the gross profit is 25% of cost. (Round percentage of sales to 2 decimal places, eg. 78.74% and final answer to 0 decimal places, eg. 6,225.) The estimated inventory at May 31 $