QUESTION 4. Where in the Codification does it state that the SEC requires the disclosure, either in the balance sheet or in the notes, of the amounts of major classes of inventory such as finished goods, inventoried costs relating to long-term contracts or programs, work in process, raw materials, etc? (Give the reference only) QUESTION 5. Eur audit client, a manufacturer of Surgical gloves, wants to increase the value of its inventory even though it has not experienced any changes in manufacturing costs. Your client explains that it wants the value of its inventory to reflect the fact that it can now charge a higher price for these high demand items. Is this permissible under U.S. GAAP? Quote the relevant language from the Codification in explaining vaur answer and include the relevant Codification references in XXX-W-ZZ** format