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With no inventory, LIFO recapture looms for dealers

November 16, 2010

Ending 2008 with bulging inventory caused some car dealers to have to record LIFO adjustments. But that tax deferral might come home quicker than thought for those whose lots now are bare.

"It could be a disaster if dealers and their controllers are not looking at the fluctuations in their inventory from last year," said Jim Boland, partner with the accounting firm Mironov, Sloan & ParzialeLLC.

 

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