Pina Company uses the gross proht 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 $147,800 637,400 31.000 953,600 72,200 11,900 (a) Your answer is correct Compute the estimated Inventory at May 31, assuming that the gross profis 25of net sales $ 161350 The estimated inventory at May 31 e Textbook and Media Attempt totused Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated inventory at May 31 $ 143250 eTextbook and Media Attempts: 1 of 3 used (6) 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 decimal places, e.g, 6,225) $ The estimated inventory at May 31 e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later