E2-8 (LO6) (Full Disclosure Principle) of these facts was made in the financial statements and the r Presented below are a number of facts related to Weller, nc. Assume that no mention been asked to explain the appropriate accounting and related Assume that you are the auditor of Weller, Inc. and that you disclosure necessary for each of these items have a) The company decided that, for the sake of ib) Equipment purchases of $170,000 were partly financed during the year th (co) Weller has reported its ending inventory related to di The company changed its method of valuing inventories from weighted-average to FIFO. No mention of this only net income should be reported on the income statemenst. Details as to revenues, cost of goods sold, and able. The company offset the equipment notes payab inventories is presented in the financial statements and related notes was made in the financial statements. expenses were omitted t against the notes payable and reported plant assets at $60,000. at $2.100,000 in the financial statements. No other information