Contract Pricing:

Material Prices Overstated in Pershing II Contract

NSIAD-87-41: Published: Jan 30, 1987. Publicly Released: Jan 30, 1987.

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GAO reviewed an Army contractor's prices to determine whether the contractor complied with the Truth in Negotiations Act in providing accurate, complete, and current cost or pricing data.

GAO found that the contractor failed to update its data to reflect changes in material costs, resulting in overstated prices of $1.2 million, including overhead and profit.

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