What is the importance of understanding various inventory valuation methods in determining the quality of reported profits?

Discussions
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The Quality of Financial Information

Referencing this weeks readings and lecture, describe the quality
issues related to reporting revenue. What is the importance of
understanding various inventory valuation methods in determining the
quality of reported profits?
Respond to at least two of your classmates posts.
Conflicts with GAAP

Even though firms follow the accounting rules (GAAP) when presenting
their financial statements, it is still possible for conflicts of
interest to exist between what management wants investors and creditors
to see and the economic reality of transactions. Explain how this can
occur.
Respond to at least two of your classmates posts.

Respond to at least two of your classmates posts. Respond to at least two of your classmates posts.

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