[Code of Federal Regulations]
[Title 26, Volume 11]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.1013-1]

[Page 41]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.1013-1  Property included in inventory.

    The basis of property required to be included in inventory is the 
last inventory value of such property in the hands of the taxpayer. The 
requirements with respect to the valuation of an inventory are stated in 
subpart D (section 471 and following), part II, subchapter E, chapter 1 
of the Code, and the regulations thereunder.