An auditor generally obtains from a client a formal written statement concerning the accuracy of the inventory. The particular letter of representation is used by the auditor to

Group of answer choices

Remind management that the primary responsibility for the overall fairness of the financial statements rests with management and not with the auditor

Reduce the scope of the auditors physical inventory work but not the other inventory audit work that is normally performed

Confirm in writing the evaluation basis used by the client to value the inventory at the lower of cost or net realizable value

Lessen the auditors responsibility for the fair presentation of balance sheet inventories