When an auditor is auditing a client's inventory accounts, the primary focus is on the assertions of _______.

Question

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The primary focus of inventory auditing is on the assertions of completeness, existence, valuation and allocation, and rights and obligations. These assertions ensure that all inventory items are included, physically exist, are properly valued and allocated, and the client has the right to use or sell them. The auditor may also consider cutoff and accuracy, but they are not typically the primary focus in inventory auditing. Disclosure is also important but it is not an assertion related to inventory.

When an Auditor Is Auditing a Client's Inventory Accounts, the Primary