Teal 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		$ 169,600
Purchases (gross)		677,700
Freight-in		30,300
Sales revenue		957,200
Sales returns		74,300
Purchase discounts		13,100

(a)

Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales.

The estimated inventory at May 31

$enter the dollar amount of the estimated inventory at May 31