Testbank Problem 150 The records of Cullumber Stores included the following data: Inventory, May 1, at retail, $15,500; at cost, $10,385 Purchases during May, at retail, $41,000; at cost, $39,500 Freight-in, $2,800; purchase discounts, $300 Additional markups, $4,000; markup cancellations, $430; net markdowns, $1,470 Sales during May, $47,300 Calculate the estimated Inventory at May 31 on a LIFO basis. (Round ratios to 2 decimal places, e.g. 75.35% and final answer to 0 decimal places, e.g. 5,275.) Estimated inventory s