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Why from your perspective is inventory so easy to inflate


Problem

Review the Journal of Accountancy Article: Ghost Goods: How to Spot Phantom Inventory

1. Why, from your perspective, is inventory so easy to inflate without auditor detection?

2. Does overstated inventory affect just the balance sheet? Explain how it affects the balance sheet and any other financial statements.

3. Why do you think Mickey Monus got away with his scheme for so long?

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Auditing: Why from your perspective is inventory so easy to inflate
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