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Ashford acc410 week 5 dq 1 audit reporting
1. ASHFORD ACC410 Week 5 DQ 1 Audit Reporting
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Audit Reporting. Wade Corporation has been your audit client for several years.
At the beginning of the current year, the company changed its method of
inventory valuation from average cost to last in, first out (LIFO). The change,
which had been under consideration for some time, was in your opinion a logical
and proper step for the company to take. What effect, if any, will this situation
have on your audit report for the current year? Remember to complete all parts of
the problems. Do not forget to show the necessary steps and explain how you
attained that outcome. Respondtoatleasttwoofyourclassmates’ postings.