Both at the IRS National Office and in private practice, I have handled a number of matters involving LIFO inventories, including initial LIFO elections, analysis of the most advantageous LIFO sub-methods for companies, bargain purchases, components-of-cost and recapture of LIFO reserves.

On behalf of a national trade association, I successfully persuaded Treasury and the Service to permit distributors of construction and agricultural equipment to value their ending inventories at current replacement cost under certain circumstances.  See Rev. Proc. 2006-14.

Since 2000, I have had a strategic alliance with LIFO Systems and have evaluated the advantages and disadvantages of electing the LIFO method for hundreds of companies.

Contact information

Law Offices of Donald A. Barnes, PLLC
  818 Connecticut Avenue, N.W., Suite 1200
Washington, DC 20006
Telephone: (202) 728-4407
Cell: (202) 360-0275
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