Wal-Mart’s retail business in China has been plagued by questionable accounting and unauthorized sales practices, according to Bloomberg News.
The company reportedly made business appear strong by making bulk sales to other retailers and tampering with inventory pricing. The markups accounted for 4 percent of the company’s gross profits in 2010 while bulk sales were responsible for at least CNY1.6 billion (USD243 million) in revenue, according to Bloomberg.
(Source: CNBC)