Final answer:
An auditor's conclusion that no excessive costs for an idle plant were charged to inventory focuses on the correct valuation and presentation of inventory costs in accordance with accounting principles. It ensures inventory is not overstated by avoiding the capitalization of costs from an idle plant.
Step-by-step explanation:
The student's question pertains to an audit concerning the accounting of inventory costs related to an idle plant. The auditor’s conclusion indicates that there were no excessive costs charged to inventory, which would suggest that the valuation and allocation of costs were done appropriately. This conclusion is closely related to the audit objective that involves evaluating the correct presentation and disclosure of inventory on the financial statements and ensures the valuation is done in accordance with the relevant accounting principles. The aim is to ascertain that the inventory is not overstated by including costs that should not be capitalized, such as the costs associated with the idle plant.