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Quick Question - Tax Accounting for Parts Inventory
1.
What accounting method does your company use to value your parts inventory?
Last In, First Out (LIFO)
First In, First Out (FIFO)
Average Cost
I don't know
Other (Please describe):
2.
LIFO reserve...
If your company uses LIFO, what is the total value of your LIFO reserve? Please enter your answer in U.S. dollars as a whole number...
3.
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