The U.S. IRS recently released an updated practice unit on LIFO Pooling Requirements. The general overview of the practice unit is as follows: Note: This practice unit updates the June 26, 2020, practice unit with the same title. The update clarifies slides 4, 10, and 12 regarding the 2014 reclassification of Table 6 of the Producer Price Index detailed reports to Table 9. Any taxpayer permitted or required to take inventories pursuant to the provisions of IRC 471, and pursuant to the provisions of Treas. Reg. 1.471–1 to 1.471–9, inclusive, may elect to compute opening and closing inventories for those...