Question: a client has changed from FIFO to LIFO on inventory valuation. auditor does not concur with the change. the effect of the change is material

a client has changed from FIFO to LIFO on inventory valuation. auditor does not concur with the change. the effect of the change is material this year but is expected to be immaterial in the future. the appropriate report on the financial statement is

qualified or adverse

qualified

unmodified with EOM

standard unmodified

adverse

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