RiverbedCompany uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May.

Inventory, May 1 $167,300

Purchases (gross) 580,800

Freight-in 32,100

Sales revenue 1,079,300

Sales returns 73,300

Purchase discounts 11,300

Compute the estimated inventory at May 31, assuming that the gross profit is35% of net sales.

Compute the estimated inventory at May 31, assuming that the gross profit is35% of cost.(Round percentage of sales to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.)