Vaughn 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 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts $ 148,700 678,400 30,500 1.095.000 70,300 11.800 (a) Your answer has been saved. See score details after the due date. Compute the estimated inventory at May 31, assuming that the gross proht is 25% of net sales. The estimated Inventory at May 31 $ 89075 .../30 Question 4 of 8 Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated inventory at May 31 $ 89075 Attempts: 1 of 1 used (6) Compute the estimated Inventory at May 31, assuming that the gross profit is 25% of cost. (Round percentage of sales to 2 decimal places, eg. 78.74% and final answer to decimal places, 6.9. 6.225.) The estimated inventory at May 31 Attempts: 0 of 1 used Subanit Answer Save for Later Last saved 3 minutes ago Saved work will be auto-submitted on the due date