[Code of Federal Regulations]
[Title 26, Volume 6]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.472-5]

[Page 522]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.472-5  Revocation of election.

    An election made to adopt and use the LIFO inventory method is 
irrevocable, and the method once adopted shall be used in all subsequent 
taxable years, unless the use of another method is required by the 
Commissioner, or authorized by him pursuant to a written application 
therefor filed as provided in paragraph (e) of Sec. 1.446-1.

[T.D. 6500, 25 FR 11730, Nov. 26, 1960]