Accounting 1 Discussion Question & SOC100 Discussion Question – Kim Woods/Phyllis Young. Accounting 1Use the Internet to research the annual report of at least one (1) merchandising company. Determine which costing method (Last In First Out [LIFO], First In First Out [FIFO], or weighted average cost) that is used to record inventory by your selected company.Identify the three (3) primary advantages and three (3) primary disadvantages of using the costing method (LIFO, FIFO, and weighted average) that is used to record inventory.ÿÿDiscuss whether or not you believe that LIFO is a fair inventory valuation method.Provide support for your responseSOC100 – Lanett, Alabama(Lanett High School)According to the National Center for Education Statistics (2013) on page 307 of your textbook, eight (8) percent of U.S. students dropped out of high school which is an issue for parents, educators, and the community. Use the Internet to research and identify the high school drop-out rate for your city. Discuss two (2) of the possible effects that your city?s high school drop-out rate may have on the community. Provide a rationale for your response.