Brief Exercise $12-8($Algo$)$ Understand inventory turnover $($LO$12-3)$

The Play it Some More Sports Club reports sales revenue of $$628,000.$ Inventory at both the beginning and end of the year totals $$130,000.$ The inventory turnover ratio for the year is $3\mathrm{.}7.$

What amount of gross profit does the company report in its income statement?

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