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1. Reg. Sec. 1.472-8 allows a taxpayer to elect the dollar-value method of pricing LIFO inventories. Identify the two conditions associated with the election.
1. Reg. Sec. 1.472-8 allows a taxpayer to elect the dollar-value method of pricing LIFO inventories. Identify the two conditions associated with the election. 2. Describe two methods by which a taxpayer can secure IRS consent for a change in accounting method. 3. Explain the significance of Form 3115 as it relates to automatic consent and the significance of a LIFO reserve adjustment. (See Hawse, T.C. Memo. 2015-99)
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Human Resource Management
Authors: John Bernardin
6th Edition
978-0078029165, 0078029163
