You are a recent College graduate and you are working in the accounting department of Macy’s. Next week, you are required to attend an inventory meeting for one store. You know this store well because you shop there frequently. One of the managers of the store feels that the men’s shoe department is unprofitable because the selection is poor, there are few sizes available, and there just aren’t enough shoes. The manager is pushing for a very large shoe inventory to make the department more desirable to shoppers and therefore more profitable. Explain in this discussion why it is good or bad to have a large inventory of shoes. 2. Do the terms LIFO, FIFO, and Weighted Average refer to techniques used in determining quantities of the various classes of merchandise on hand? Please explain.