La Tour inc is based in france and prepares its financial statments (in euros) in...
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Accounting
La Tour inc is based in france and prepares its financial statments (in euros) in acordance with IFRS. In 2014 it reported cost of goods sold of 578 million euros and average inventory of 154 million euro. Breifly discuss how analysis of LaTours inventory turnover (and comparisons to a company using GAAP) might be affected by differences in invenotry accounting between IFRS and GAAP.
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