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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.

  1. What was the sales for 1968?
  2. What was the inventory turns for 1968?

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