An explanatory paragraph reads as follows: The Company has adopted the first-in, first-out method of determining inventory costs, whereas it previously used the last-in, first-out method. Although use of the first-in, first-out method is in conforrnity with generally accepted accounting principles, in our opinion the Company has not provided reasonable justification for seeking a change as required by Opinion No. 20 of the Accounting Principles Board.

The paragraph likely appears in:

a. An unqualified opinion.

b. An unqualified opinion that emphasized the matter.

c. A qualified opinion.

d. A disclaimer of opinion.

Choose the correct answer.