FORUM DESCRIPTION a Discuss the following scenario as it relates to Chapters 7 and 8 A company may compute inventory under one of various cost flow assumptions Among these assumptions are first in, first-out (FIFO) and lastin, first-out (LIFO) in the past Some companies have changed from FIFO to UFO for computing portions or all of their inventory Required 1. Ignoring income tax explain what atfects a change from FIFO to LIFO han on a company's net earnings and working capital 2. Explain the difference between the FIFO assumption of earnings and operating cycle and the LIFO assumption of earnings and operating cycle Your initial post should be at last 300 words. The initial post should be posted by Wednesday In addition to an initial post to the discussion, students are required to respond to the posts of TWO other student in the class. These responses should be a minimum of 150 words and substantive. The responses should be completed by Sunday Arenponte such as agree with her or "liked what he said about that is not considered substantive post and will not be counted for course credit A student cannot post their initial discussion post and a response post to peers in the same day to get credit The cespone post must be completed on a separat dayThis is essential to maintaining ongoing decussion over the course of the week and it was allow the disconto ona te of its own it would in a face-to-face learning environment Please refer to the discussion rubrie