Which of the following auditing procedures will provide evidence to support management's assertions regarding the allocation and valuation of inventories?
A. Vouching inventories to receiving documents.
B. Determining the replacement cost of inventories.
C. Tracing inventory counts to accounting records.
D. Vouching items reported in the accounting records to inventory counts.
Correct answer is Option B. Explanation: Determining the replacement cost of inventories this auditing procedures will provide evidence to support management's assertions regarding the allocation and valuation of inventories.
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