Sandhill comapny uses the gross profit method

9-14 Sandhill Company uses the gross profit method to estimate Inventory for monthly reporting purposes. Presented below is Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns $ 174,100 27,300 995,000 73,400 11,600 Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated inventory at May 31 comp ute the estimated inventory at May 31, assuming that the gross pront is 2S% of cost. (Round percentage of sales to 2 decimal places, eg. 78.74% and f places, e.g. 6,225.) The estimated inventory at May 31 Question Attempts: Unlimited SAVI