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Your audit client, a manufacturer of surgical gloves, wants to increase the value of its...

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Accounting

Your audit client, a manufacturer of surgical gloves, wants to increase the value of its inventory even though it has not experienced any changes in manufacturing costs. Your client explains that it wants the value of its inventory to reflect the fact that it can now charge a higher price for these high demand items. Is this permissible under U.S. GAAP?

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