Question: Write a 500- to 750-word response to the question below LIFO has been used by Client X to value its inventories. Client X has contacted

Write a 500- to 750-word response to the question below

"LIFO has been used by Client X to value its inventories. Client X has contacted you for clarification and recommendations on how the use of the LIFO method to value its inventories will be impacted if a switch to financial statements prepared in compliance with IFRS will be made."

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