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An internal auditor uses ACL to perform a lower-of-cost or net-realizable-value analysis on inventory to detect items that have a market value less than their

  1. An internal auditor uses ACL to perform a lower-of-cost or net-realizable-value analysis on inventory to detect items that have a market value less than their cost. What management assertion related to the inventory account is the auditor testing?

    Existence

    Occurrence

    Completeness

    Valuation

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