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The Intramural Sports Club reports sales revenue of $956,000. Inventory at both the beginning and end of the year totals $170,000. The inventory turnover ratio
The Intramural Sports Club reports sales revenue of $956,000. Inventory at both the beginning and end of the year totals $170,000. The inventory turnover ratio for the year is 4.7. What amount of gross profit does the company report in its income statement? THE INTRAMURAL SPORTS CLUB Income Statement (partial)
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