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Problem - Dollar General Corporation operates general merchandise stores that feature quality merchandise at low prices. All stores are located in the United States, predominantly in small towns in 24 mid-western and south-eastern states. In the current year, the company reported average inventories of $1,668 million and an inventory turnover ratio of 8.0. Average total fixed assets were $2,098 million, and the fixed asset turnover ratio was 9.0. What amount did Dollar General report as gross profit in the current year?
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