(d) LIST OF AUDIT PROCEDURES PERFORMED FOR INVENTORY Audit Procedure Management Assertion (a) The auditor determined that pledged inventory was identified in a note. (b) The auditor confirmed goods held by the client in a public warehouse. The auditor performed a purchases cutofftest to assure all purchase transactions for the year were included in the balance. The auditor accounted for the numerical sequence of purchase orders. The auditor vouched the recorded payables to receiving documents. (f) The auditor determined that accounts payable was presented on the balance sheet as a current liability. The auditor observed the taking of the physical inventory. The auditor performed an analytical procedure comparing this year's balance of payables with the previous year's. (1) The auditor reconciled the total payables from the subsidiary ledger to the balance in the general ledger. 6) | The auditor compared the recorded inventory costs to the replacement costs of inventory. (g) (h) REQUIRED: For each of the audit procedures listed, indicate the primary management assertion that is being tested by the procedure. Each assertion may be used once, more than once, or not at all. Be sure to list only one assertion, the most likely assertion being tested