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Assume that you are the managerial accountant at footsore. a manufacturer of hard drives CD, und DVDs. Its reporting year-end is December 31. The chief
Assume that you are the managerial accountant at footsore. a manufacturer of hard drives CD, und 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 rapid growth of this product beginning in January. To decrease the company's lax 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 increasing expenses. In which account, should the purchase of CD raw material' he recorded.' How should you respond to this request by the chief financial officer
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