Your office is on the 68th floor of your building. The CEOs office is on the 77th floor. The two of you are waiting for an elevator one morning. The CEO states "Our prices are rising, and I want the lowest net income for tax purposes and the highest ending inventory for external reporting purposes." Is this an ethically acceptable request? What are the major features of each system? Explain why a physical inventory is necessary under both systems.

Note: Originality is better. Please provide the source if copied