Sarasota Company Limited, which follows ASPE, uses the gross profit method to estimate inventory for monthly reports. Information follows for the month of May Inventory, May 1 S 356,000 Purchases 722.000 Freight-in 50,000 Sales 1.300.000 Sales returns 76,900 Purchase discounts 12,500 a) Calculate the estimated inventory at May 31, assuming that the gross profit is 25% of sales S Estimated inventory, May 31 e Textbook and Media Bavoro Attempts:0 of 1 used Sunilt