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Accounting statements of firm having inflated inventory

Problem:

I am the newly named CEO of a large Fortune 500 company. This company has been publicly traded on the NYSE for many years and is well known with the average investor. The company is currently having a difficult time with its earnings.

I have discovered that the accounting statements of the firm have inflated inventory, thus making the firm look more profitable than it is. What is my next step?

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Accounting Basics: Accounting statements of firm having inflated inventory

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