§471. General rule for inventories — Inbound Citations

Citations to 26 U.S.C. § 471 as a whole

• 26 U.S.C. § 170(e)(3)(C)(iv)(I)

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  (I) does not account for inventories under section 471, and
• 26 U.S.C. § 312(n)(4)(B)(i)

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  (i) the inventory amount of the inventory assets under the first-in, first-out method authorized by section 471, exceeds
• 26 U.S.C. § 312(n)(4)(C)(iii)

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  (iii) The inventory amount of assets under the first-in, first-out method authorized by section 471 shall be determined—

  (I) if the corporation uses the retail method of valuing inventories under section 472, by using such method, or

  (II) if subclause (I) does not apply, by using cost or market, whichever is lower.
• 26 U.S.C. § 472(a)

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  (a) A taxpayer may use the method provided in subsection (b) (whether or not such method has been prescribed under section 471) in inventorying goods specified in an application to use such method filed at such time and in such manner as the Secretary may prescribe. The change to, and the use of, such method shall be in accordance with such regulations as the Secretary may prescribe as necessary in order that the use of such method may clearly reflect income.
• 26 U.S.C. § 1363(d)(3)(A)

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  (A) the inventory amount of the inventory asset under the first-in, first-out method authorized by section 471, exceeds
• 26 U.S.C. § 1363(d)(4)(C)

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  (C) The inventory amount of assets under a method authorized by section 471 shall be determined—

  (i) if the corporation uses the retail method of valuing inventories under section 472, by using such method, or

  (ii) if clause (i) does not apply, by using cost or market, whichever is lower.