If an auditor were concerned with obtaining evidence about the appropriateness of the value of inventory, which of the following tests would be most appropriate?
A)Compilation tests
B)Price tests
C)Confirmation of inventory held by outside parties
D)Physical examination of the inventory

Question

Quizplus · Accepted Answer

Price tests are used to verify the valuation of inventory by ensuring that the prices used to value inventory are appropriate and accurate.

If an Auditor Were Concerned with Obtaining Evidence About the Appropriateness