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Judy's Cars, Inc. sells collectible automobiles to consumers. Judy employs the specific identification inventory valuation method. Prices are negotiated by Judy and individual customers. Judy accepts trade-ins when she sells an automobile. Judy negotiates the allowance for trade with the customer. Occasionally, Judy finds that it can take two or three years to sell a given automobile. Judy now has four automobiles that she has held for over two years. She expects to eventually sell those automobiles but expects that they will sell for less than the original cost. What tax issues should Judy consider?

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