SECTION 1. PURPOSE

This revenue procedure provides an alternative dollar-value last-in, first-out (LIFO) pooling method, the Vehicle-Pool Method, for retail dealers and wholesale distributors (collectively, “resellers”) of cars and light-duty trucks. This revenue procedure also provides the exclusive procedures for obtaining automatic consent to change to the Vehicle-Pool Method. In addition, this revenue procedure modifies Rev. Proc. 97–36, 1997–2 C.B. 450, and Rev. Proc. 2001–23, 2001–1 C.B. 784, as modified by Announcement 2004–16, 2004–1 C.B. 668, to provide the permissible method of pooling for crossover vehicles for resellers of cars and light-duty trucks that do not use the Vehicle-Pool Method.