In a manufacturing company, which one of the following audit procedures would give the least assurance of the valuation of inventory at the audit date? · Obtaining confirmation of inventories pledged under loan agreements. · Testing the computation of standard overhead rates. · Examining vendor invoices · Reviewing direct labor rates.

In a manufacturing company, which one of the following audit procedures would give the least assurance of the valuation of inventory at the audit date?

·        Obtaining confirmation of inventories pledged under loan agreements.

·        Testing the computation of standard overhead rates.

·        Examining vendor invoices

·        Reviewing direct labor rates.

CLICK HERE TO GET THE ANSWER !!!!