Two audit staff associates are discussing their upcoming audit of a major client's inventory accounts. The pair is keen to understand which assertions apply to the client's inventory accounts. Which of the following assertions would likely apply?

allocated to the correct revenue accounts.

	The completeness assertion because the auditor will want to be sure all inventories are accounted for.
	The existence assertion, because the auditor will want to ensure revenue transactions that preceded inventory shipments existed.
	The rights and obligations assertion, because the auditor will want to make sure that inventory is listed in the correct accounts.
	The valuation and allocation assertion, as the auditor will want to be sure that the inventory is valued appropriately and