Which of the following auditing procedures will provide evidence to support management's assertions regarding the allocation and valuation of inventories?

A) Vouching inventories to receiving documents.

B) Determining the replacement cost of inventories.

C) Vouching inventory counts to accounting records.

D) Tracing items reported in the accounting records to inventory counts.

Answer: Option C

Explanation: In simple words, vouching refers to the process in which an auditor confirms that something is accurate and true as described earlier.

While performing auditing, the auditor performs the vouching function by physically counting the inventory and compare the count results with the statements that are presented by the firm to make sure that the documents are accurate.

Hence from the above we can conclude that the correct option is C.