Simon Company reported $$125,000$ as its ending inventory and $$2,050,000$ as cost of goods sold for Year $2.$ Its LIFO reserve totaled $$77,500$ and $$75,000$ for Year $2$ and Year $1,$ respectively. Sales amounted to $$4,000,000$ for Year $2.$

If the company had used FIFO instead of LIFO, how much would it have reported for gross profit during Year $2?$

$$1,977,500$

$$1,952,500$

$$1,601,500$

$$1,680,000$