Polo Ralph Lauren Corporation designs, markets, and distributes a variety of apparel, home decor, accessory, and fragrance products. The company's products include such brands as Polo by Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren, Polo Jeans Co., and Chaps. For fiscal years 2004 and 2003, Polo Ralph Lauren reported the following (in thousands):

Assume that accounts receivable (in millions) were $353,608 at the end of fiscal 2002.
a. Compute the accounts receivable turnover for 2004 and 2003. Round to one decimal place.
b. Compute the days' sales in receivables for 2004 and 2003. Round to one decimal place.
c. What conclusions can be drawn from these analyses regarding Ralph Lauren's efficiency in collectingreceivables?

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For the Period Ending Oct. 31, 2004 Oct, 31, 2003 $2,189,321 375,823 Net sales Accounts receivable $2,380,844 441,724