Question: Refer to the IRS's ATG "Auto Dealership," and answer these questions. 83.7% 16.3%
a. All other expenses 3.4% Profit before taxes 0.61%
b. What is the difference between LIFO and non-LIFO inventory values called? What does it represent? What is a simple way to obtain a "ball park" estimate of a company's LIFO reserve? What are some tentative conclusions? You may wish to refer to the IRS's ATG on Gas Retailers.