LIFO is a somewhat controversial inventory costing method that is used in the U.S.but is not allowed by International Financial Reporting Standards (IFRS). It is one of the main barriers to full GAAP - IFRS convergence, and some people in the U.S. believe that LIFO should be banned. Research this issue and tell the class how you feel about this issue. Consider the benefits and drawbacks of keeping or banning LIFO. Don't just copy stuff, be sure you understand what you are saying when you post. INITIAL POST: Due by Saturday, 11/12. You won't be able to see your classmate's posts until you have posted your initial post. Your initial post must meet 100 minimum word count. Post your word count at the bottom of your initial post. Cite any outside sources you use. Never plagiarize, copy and paste, or quote someone else. Use your own original words. REPLY POSTS: Due by Monday, 11/14 by 11:55 PM. For your reply post to two (2) classmates - support and/or add to their posts or tell us why you disagree (respectfully with reasons). Click here to access the discussion board grading rubric. LIFO is a somewhat controversial inventory costing method that is used in the U.S.but is not allowed by International Financial Reporting Standards (IFRS). It is one of the main barriers to full GAAP - IFRS convergence, and some people in the U.S. believe that LIFO should be banned. Research this issue and tell the class how you feel about this issue. Consider the benefits and drawbacks of keeping or banning LIFO. Don't just copy stuff, be sure you understand what you are saying when you post. INITIAL POST: Due by Saturday, 11/12. You won't be able to see your classmate's posts until you have posted your initial post. Your initial post must meet 100 minimum word count. Post your word count at the bottom of your initial post. Cite any outside sources you use. Never plagiarize, copy and paste, or quote someone else. Use your own original words. REPLY POSTS: Due by Monday, 11/14 by 11:55 PM. For your reply post to two (2) classmates - support and/or add to their posts or tell us why you disagree (respectfully with reasons). Click here to access the discussion board grading rubric