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. Inventory, May 1 $ 163,800 Purchases (gross) 651,200 Freight-in 29.500 Sales revenue 925.900 Sales returns 66.700 Purchase discounts 11.300 () You weris incorrect The estimated inventory at May 31 0.4/1 $ 188800 e Textbook and Media Assistance Used Solution Using multiple attempts has impacted your score. 20% score reduction after attempt 1 Attempts: 2 of 2 used (b) Compute the estimated inventory at May 31, assuming that the gross proht is 25% of cost. (Round percentage of sales to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.3. 6,2250) $ The estimated inventory at May 31 dtv A 69 s 28 MacBook Pro