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Your client received notice of a 15% increase in the cost of inventories, which is material but not highly material. Accordingly, the client recorded an

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Your client received notice of a 15% increase in the cost of inventories, which is material but not highly material. Accordingly, the client recorded an increase in the value of its inventory to recognize its value at replacement cost. The auditor will most like issue alan): Standard unmodified opinion Unmodified opinion with explanatory paragraph Unmodified opinion with changes to standard report wording Qualified opinion Disclaimer of opinion Adverse opinion

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