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

In which account should the purchase of CD raw materials be recorded?

How should you respond to this request by the chief financial officer?