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: 809 10% Addresses promos fully using standard English grammar and spelling A substantial response to one classmate do not just say "Nice post or agree) using standard English grammar and spelling A substantial response to one more classmate (do not just say "Nicepost" or "apree") using standard English crammar and spelling Total Possible 104 100