bulletin Internal Revenue›Rev. Proc. 90-63, 1990-2 C.B. 664, is
SECTION 5. CHANGING TO
Internal Revenue Bulletin 1997-33 · 2026-10-03 edition · updated 2026-10-04 · United States
ALTERNATIVE LIFO METHOD
.01 Automatic change. Except as provided in section 5.02 of this revenue procedure, an automobile dealer wanting to change to the Alternative LIFO Method must follow the provisions in Rev. Proc. 97–37. .02 Nonautomatic change. An automobile dealer that uses the IPIC method for goods other than new automobiles, new light-duty trucks, parts and accessories, used automobiles, and used trucks, must
August 18, 1997 16 1997–33 I.R.B.
the computations of the LIFO inventory under the Alternative LIFO Method, as well as copies of the actual purchase invoice for each vehicle used in the computation.
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