X Your answer is incorrect. The records of Ivanhoe Stores included the following data: Inventory, May 1, at retail, $14,500; at cost, $9,860 Purchases during May, at retail, $43,000; at cost, $32,500 Freight-in, $2,600; purchase discounts, $280 Additional markups, $4,500; markup cancellations, $420; net markdowns, $1,380 Sales during May, $45,900 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 $ $ 10375.51