Sam Johnson is a new partner in Wilkerson, James, and Flores, an accounting firm. He is in charge of an audit for Zappo Electronics, which manufactures circuit board parts for major international electronics companies. Zappo's main asset is its inventory, which is listed on the books at $742,000. After doing a complete audit of the inventory, however, Sam discovered that nearly half of it is obsolete and worthless. He reported to the senior partner that the inventory needs to be written down by $350,000 before the firm could sign off on a clean opinion. The senior partner meets with Zappo's CEO, who argues strongly against any write-down of inventories. We'll find a market for every last item