Johnson was asked to perform the first audit of a wholesale business that does not maintain perpetual inventory records. Johnson has observed the current inventory but has not observed the physical inventory at the previous year-end date and concludes that the opening inventory balance, which is not auditable, is a material factor in the determination of cost of goods sold for the current year. Johnson will probably: issue a disclaimer of opinion. issue an adverse opinion. decline the engagement. express an unqualified opinion on the balance sheet and income statement except for inventory