Question 9 of 11 View Policies Current Attempt in Progress Riverbed 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 $ 156,000 576,100 29,300 998,400 72,100 11.900 Sales returns Purchase discounts (a) Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated Inventory at May 31 eTextbook and Media Save for later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above, EPIC