The internal revenue code allows some accountable events to

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he Internal Revenue Code allows some accountable events to be considered differently for income tax reporting purposes and financial accounting purposes, while other accountable events must be reported the same. Identify an event related to inventories that is treated different for income tax purposes and financial accounting purposes. Discuss why it might be desirable to report this event differently for financial accounting purposes. Do you agree with the difference in treatment? Support your position.

Reference no: EM13579835

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