Effect of Overstating Inventories Phar Mor was a large, rapidly growing pharmacy chain that proved to have
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Effect of Overstating Inventories Phar Mor was a large, rapidly growing pharmacy chain that proved to have overstated assets by more than $400 million. Top executives accomplished the overstatement by inflating the company's inven- tories at numerous store locations. How would this affect the income statements of Phar Mor?
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Related Book For
Introduction To Financial Accounting
ISBN: 0131479725
9th Edition
Authors: Charles T Horngren, John A Elliott
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