Inventory fraud: It refers to an illegal practice committed by the company or its employees that involves the manipulation of reported inventories and its related accounts such as sales and sales returns and allowances to mislead the users of financial information. To prepare: a short explanation of the nature of the inventory fraud by Corporation LF and Corporation MK.

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Chapter 6, Problem 6.10BYP

To determine

Inventory fraud: It refers to an illegal practice committed by the company or its employees that involves the manipulation of reported inventories and its related accounts such as sales and sales returns and allowances to mislead the users of financial information.

To prepare: a short explanation of the nature of the inventory fraud by Corporation LF and Corporation MK.

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