The denominator of the gross margin markup percentage is total production costs

There is a perfect correlation between what one says and what people hear

a. true b. false

It takes K's Boutique an average of 53 days to sell its inventory and an average of 16.8 days to collect its accounts receivable. The firm has sales of $942,300 and costs of goods sold of $692,800. What is the accounts receivable turnover rate?

a. 23.69 b. 11.41 c. 21.73 d. 24.23 e. 19.55