the sec charged that moonstay violated FASB statement no. 5, which deals with contingencies, by overstating a litigation reserve account related to environmental problems. Read the discussion of loss contingencies found in any intermediate accounting book. what might be the nature of moonstay's violation of fasb statement no.5

Mattress wholesalers, inc. is constantly trying to reduce inventory in its supply chain. last year, cogs was $7.47 million and inventory was $1.47 million. this year, cogs is $8.65 million and inventory investment is $1.64 million.a) what was its weeks of supply last ) what is its weeks of supply this ) is mattress wholesalers making progress in its inventory reduction effort? since the number of weeks that cover the supply has mattress wholesalers is making in its inventory reduction effort.