Module 8: Purchase and Sale of Inventory Discussion Topic Due March 14 at 11:30 PM Starts Mar 8, 2021 1:00 AM Ends Mar 14, 2021 11:30 PM Explain how LIFO, FIFO, and Weighted average inventory systems will have different affects on a firm's income statement and balance sheet. If a firm was concerned about reducing their tax burden, which inventory system would best benefit them? Assume costs have been steadily rising over time. Module 8: Chapter Problems