Which of the following audit procedures probably would provide the most reliable evidence concerning the entity's assertion of rights and obligations related to inventories?

Multiple Choice

• Trace test counts noted during the physical count of inventory to the summarization of quantities.
• Inspect the open purchase order file for significant commitments to consider for disclosure.
• Inspect agreements for evidence of inventory held on consignment.
• Select the last few shipping advices used before the physical count and determine whether the shipments were recorded as sales.