Shamrock 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 $ 162,000 Purchases (gross) 637,500 Freight-in 28,600 Sales revenue 1,031,100 Sales returns 69,600 Purchase discounts 11,500 . Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated inventory at May 31 $enter the dollar amount of the estimated inventory at May 31 Compute the estimated inventory at May 31, assuming that the gross profit is 25% of cost. (Round percentage of sales to 2 decimal places, e. g. 78.74% and final answer to 0 decimal places, e. g. 6,225.) The estimated inventory at May 31 $enter the dollar amount of the estimated inventory at May 31