Question: UrisCo has consistently used the cost method to value its inventory for tax purposes and is not interested in applying for consent to change its

UrisCo has consistently used the cost method to value its inventory for tax purposes and is not interested in applying for consent to change its inventory valuation method due to the cost and effort involved. During the year, the auditors required UrisCo to write down its inventory by $250 million to market. 1f: Where would any book-tax difference be reported on Schedule M3? Part II, Line 17 Part III, Line 26 Part III, Line 31 Part III, Line 32

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