The future of one of the few remain­ing tax advantages for manufacturers, distributors and retailers in general and wineries, in particular, may be in doubt. The inventory costing method, Last-in-First-Out (LIFO) is currently facing challenges on multiple fronts. Many wineries have used this inventory costing method to successfully defer taxes on their gross profit related to bulk and bottled wine sales for decades. This tax deferral essentially amounts to an interest free loan from the fede...