Screen 970 - Application to Use LIFO Method (1120)

Statement of Election Under Section 472

Enter
X
to amend the tax return to adopt the LIFO inventory method. The application prints "FILED PURSUANT TO SECTION 301.9100-2" at the top of Form 970.

LIFO Inventory Requirements

If this question is answered No, you are not eligible to use the LIFO inventory method.
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