On the basis of the following data, what is the estimated cost of the merchandise inventory on May 31 using the retail method? Cost Retail May 1 Merchandise Inventory $25,754 $42,924 May 1-31 Purchases $43,742 $59,276 May 1-31 Sales $89,900 Oa. $7,380 Ob. $12.300 Oc. $8,364 Od. $20,404