Multiple Select Question

Select all that apply

Under what circumstances may a cash$-$method business be allowed to use the cash method to account for inventory?

It is primarily a service business and average gross receipts for the past three years HAVE exceeded the statutory limitation adjusted for inflation, $$30$ million in $2024$

A cash$-$method business can always use the cash method to account for gross profit.

It is primarily a retail business and average gross receipts for the past three years HAVE exceeded the statutory limitation adjusted for inflation, $$30$ million in $2024.$

It is primarily a service business and average annual gross receipts for the past three years have NOT exceeded the statutory limitation adjusted for inflation, $$30$ million in $2024.$

It is primarily a retail business and average gross receipts for the past three years have NOT exceeded the statutory limitation$.$adjusted for inflation, $$30$ million in $2024$