work with Video Assistance Question 3 of 3 0/1 E Metlock Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May $ 163,800 Inventory, May 1 Purchases (gross) 651,200 Freight-in 29.500 Sales revenue 925.900 Sales returns 66.700 Purchase discounts 11.300 (a) Your weincorrect Question 3 of 3 Your answer is incorrect. Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated inventory at May 31 $ eTextbook and Media Assistance e Textbook Video Save for Later Attempts: 1 of 2 used Submit Answ Using multiple attempts will impact your score 20% score reduction after attempt 1