FORUM DESCRIPTION All chapter discussions are 'post-first' discussions. That means you must create and submit your own response (post) before you are able to see discussion posts from other students. Click to create a thread to type your response. You cannot edit or delete your response after you submit. Your post should include 300 words and at least a 100 word response. Assume that you are the managerial accountant at Infostore, a manufacturer of hard drives, CDs, and DVDs. Its reporting year-end is December 31. The chief financial officer is concerned about having enough cash to pay the expected income tax bill because of poor cash flow management. On November 15, the purchasing department purchased excess inventory of CD raw materials in anticipation of the rapid growth of this product beginning in January. To decrease the company's tax liability, the chief financial officer tells you to record the purchase of this inventory as part of supplies and expense it in the current year; this would decrease the company's tax liability by increasing expenses. Required 1. In which account should the purchase of CD raw materials be recorded? 2. How should you respond to this request by the chief financial officer? Your post will be graded as follows: Grading Category Percent 1. Addresses prompt(s) fully using standard English grammar and spelling. 80% 2. Substantial response to one classmate (do not just say "Nice post" or "I agree") using standard English grammar and spelling. 10% 3. Substantial response to one more classmate (do not just say "Nice post" or "I agree") using standard English grammar and spelling. A substantial response continues the discussion by: hat a. Asking a probing or clarifying question. b. Comment on something specific in your classmate's post, connecting your comment to something you learned in the class 10% or in the textbook. c. Suggest a different way to handle the issue TOTAL 100% Need help with Blackboard? Review the Discussion Forum Tutorial