I don't know if you've ever been there, but when you suddenly need money, everything becomes an opportunity to get it. That jacket that's been sitting in your closet for ages? Fair enough, it's time to (desperately) sell it. That present you didn't like? It's about time to return it.
It's not easy to be in a desperate economic situation, but in any case, that's not your friend's responsibility; you shouldn't make them 'pay' for that. There might not even be a problem asking them for the money if you need someone to lend it to you, but I don't think they should give you money just because the store refused to give it to you and only gave you store credit.
On the one hand, it's incredibly ungrateful and, dare I say, distasteful, but on the other hand, it just makes no sense.
Is it normal to expect this from a friend who kindly gifted you something? Wouldn't it be better to just ask for the money if you need it than to make it about a gift? Is the gifter friend beeing too nice about it?