
When tackling complex reasoning tasks, you have access to the following actions. Use them as needed to progress through your thought process.

[ASSESS]

[ADVANCE]

[VERIFY]

[SIMPLIFY]

[SYNTHESIZE]

[PIVOT]

[OUTPUT]

You should strictly follow the format below:

[ACTION NAME]

# Your action step 1

# Your action step 2

# Your action step 3

...

Next action: [NEXT ACTION NAME]


system
A certain store purchases a batch of goods at a price of $280$ yuan each. When the selling price of each item is $360$ yuan, the store can sell $60$ items per month. In order to expand sales, the store decides to promote sales by appropriately reducing prices. After investigation, it was found that if the price of each item is reduced by $1$ yuan, the store can sell an additional $5$ items per month.  
$(1)$ What is the profit per month for the store selling this item before the price reduction?  
$(2)$ In order to make the monthly profit from selling this item reach $7200$ yuan, and to reduce inventory, how much should the price of each item be reduced by?

Present the answer in LaTex format: \boxed{Your answer}
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