Proposal For Performing a company's Annual Audit Case Study Obtaining Clients Facts. Furm you wany. (This mee in the mood tamily own The Audesturing comve experie a privatehofitable but Your firm has turing company has been prompany info The manufacturing compananufacturing they also do rato tells The Audit Firm you work for has the opportunity to submit a proposal for an annual audit of a manufacturing company. (This manufacturing company has never been audited) Your firm has extensive experience in the manufacturing industry. The manufacturing company is a privately held family owned business. The manufacturing company has been profitable but has significant bank debt. The management of the manufacturing company informs you that they value their inventories using the next-in first-out method and they also do not believe companies should record an allowance for doubtful accounts. The management also tells you that you will only be selected as the audit firm if you agree with their treatment of inventories and the allowance for doubtful accounts in the audited financial statements. Your research shows that the next-in first-out method of valuing inventories is not in accordance with Generally Accepted Accounting Principles; also, GAAP requires use of an allowance for doubtful accounts Issue: Should your Audit Firm pursue getting this client? Why or why not? able as the ats in the audis that the renting P accouresearch shecepted