Income tax expense, income taxes payable/owed/paid, and US GAAP

According to my readings, US GAAP states that "Inventory method used for financial statements and tax purposes must be the same." However, as I progress into my readings, I notice that "When determining taxable
income, companies will tend to select allowable accounting methods wthat will minimize the taxable income upon which income taxes are levied."
Don't these two ideas contradict themselves? Or is it that, ultimately, the 2 tax amounts must equate to one another, but in the short term, it's OK if they deviate with one another due to the timing/temporary differences?
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Brablo wrote:

No. Its simple: they pick the methods to minimize taxes then use the same methods for statements.
If this really was not obvious I suggest you ask to be confined for your own safety.
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On 20 Jan 2007 15:47:27 -0800, Brablo wrote:

Do you have dogs named FIFO and LIFO?
--
"It's good to have money and the things that money can buy, but it's good,
too, to check up once in a while and make sure that you haven't lost the
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