On June $1,2020,$ Father sold land to Son for $$300,000.$ Father reported the gain by the installment method, with the gain to be spread over five years. In May $2022,$ Son received an offer of $$400,000$ for the land, to be paid over three years. What would be the tax consequences of Son$$s sale? How could the tax consequences be improved?

$2.$ What are the similarities between the crop method used for farming and the completed contract method used for long$-$term construction?

$3.$ Amber Auto Parts adopted the dollar$-$value LIFO inventory method. The company has consistently used a retail price index when it should have used a producer$$s index. As a result, its LIFO layers have been consistently undervalued. Why is the company$$s error exacerbated by the fact that the company uses the LIFO method instead of the FIFO method?