Question
The Bamboo Lounge, one of Henry Hills favorite places to relax and unwind with his associates, was tragically lost in a recent fire. From the
The Bamboo Lounge, one of Henry Hills favorite places to relax and unwind with his associates, was tragically lost in a recent fire. From the remains of what used to be the accounting ledger, the following information was recovered:
| 1967 | 1968 |
a | $2,367,121 | $2,418,257 |
Gross Margin | 42% | 45% |
Inventory Turns | 11 | [unreadable] |
Prior to the fire, The Bamboo Lounge saw a sales growth of 48% in 1968, a record performance for the 18 year-old company. Sonny Bunz, the owner, had recently taken on Paul Cicero as a new partner and was hoping to leverage his operations expertise to streamline operations and improve performance before the devastating fire.
- What was the sales for 1968?
- What was the inventory turns for 1968?
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