Please include the steps to the problem please. Thank you.

Concord Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. $ 146,400 581,500 27,800 Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts 917,100 69,300 12,200 (a) Attempts: unlimited (b) 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, eg. 6,225.) The estimated inventory at May 31 $ e Textbook and Media Save forte