CAC's notes to the financial statements indicate the company reports its inventory at cost. At what value does Generally Accepted Accounting Principles require inventory to be reported? How does this requirement protect an acquirer like Mr. Hasting from overpaying for CAC's inventory? 'Nhat facts suggest a write-down may be required but has not been recorded by (SAC? How would an overstatement of inventory value on the balance sheet affect the financial statements, ratios, and other restrictions? Explain why a potential overstatement of inventory should be of concern to Mr. Hasting