Treasury Regulations · 26 CFR
§ 1.471-7. Inventories of miners and manufacturers.
Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).
Regulation under 26 U.S.C. § 471
Cite as 26 CFR § 1.471-7
At a glance
Read from the text and its source citation. Not part of the regulation.
- Status
- In the current eCFR
- Issued
- November 26, 1960 by T.D. 6500
- Issued under
- 26 U.S.C. § 471
- Length
- 122 words · about 1 min to read
- Cross-references
- cites 1 Code section and 0 regulations; cited by 1
A taxpayer engaged in mining or manufacturing who by a single process or uniform series of processes derives a product of two or more kinds, sizes, or grades, the unit cost of which is substantially alike, and who in conformity to a recognized trade practice allocates an amount of cost to each kind, size, or grade of product, which in the aggregate will absorb the total cost of production, may, with the consent of the Commissioner, use such allocated cost as a basis for pricing inventories, provided such allocation bears a reasonable relation to the respective selling values of the different kinds, sizes, or grades of product. See section 472 as to last-in, first-out inventories.
[T.D. 6500, 25 FR 11726, Nov. 26, 1960]
Cross-references
Computed from the citations in the text of 26 CFR.
Code sections it cites
Cited by 1 other regulation
Amendment history
From the source citation at the end of the section, newest first. T.D. is a Treasury decision; FR is the Federal Register.
- Issued by T.D. 6500 (25 FR 11726)
Where it sits in 26 CFR
- Subchapter A Income tax
- Part 1 Income taxes
- Inventories
Nearby sections
- § 1.471-3 Inventories at cost.
- § 1.471-4 Inventories at cost or market, whichever is lower.
- § 1.471-5 Inventories by dealers in securities.
- § 1.471-6 Inventories of livestock raisers and other farmers.
- § 1.471-7 Inventories of miners and manufacturers.
- § 1.471-8 Inventories of retail merchants.
- § 1.471-9 Inventories of acquiring corporations.
- § 1.471-10 Applicability of long-term contract methods.
- § 1.471-11 Inventories of manufacturers.