Tests of acq payment cycle )1 Interrelationship FIGURE 20-6 of various audit Tests Raw materials aw materials Beginning nventory Direct labor Tests of payroll onne Raw material Raw material other manufacturin Finished .Tests of cost accounting records manufactured manufactured .Tests of physical inventory observation .Tests of pricing and compilation Ending Arens, Loebbecke, Auditing, &E @2000 by Prentice Hall. Inc.Arens, Loebbecke; Auditing, 8/E ©2000 by Prentice Hall, Inc. FIGURE 20 - 6 Interrelationship of Various Audit Tests