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UrisCo has consistently used the cost method to value its inventory for tax purposes and is not interested in applying for consent to change its
UrisCo has consistently used the cost method to value its inventory for tax purposes and is not interested in applying for consent to change its inventory valuation method due to the cost and effort involved. During the year, the auditors required UrisCo to write down its inventory by $250 million to market. 1a: Will this write-down lead to an originating book-tax difference on the current year financial statements compared to the current year tax return
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