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Brief Exercise 12-8 Understand inventory turnover (LO12-3) 6 The Intramural Sports Club reports sales revenue of $770,000. Inventory at both the beginning and end of

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Brief Exercise 12-8 Understand inventory turnover (LO12-3) 6 The Intramural Sports Club reports sales revenue of $770,000. Inventory at both the beginning and end of the year totals $140,000 The inventory turnover ratio for the year is 44. What amount of gross profit does the company report in its income statement? 071 pont 031 THE INTRAMURAL SPORTS CLUB Income Statement (partial A

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