Publications > Internal Revenue Service > Audit Manual - Timber Industry > Chapter 800 - Costs of Sales
Section 810, General
Exhibit 800-3
| Lumber Inventories-LIFO Values | ||||||
| Per Books (At Cost) |
Year Ended Dec. 31, 1975 |
|||||
M.B.F. |
Unit Cost | Amount |
M.B.F. |
Unit Cost | Amount |
|
| Rough Green Lumber | ||||||
| January 1, 1958 | 600 | $41 | $ 24600 | 600 | $ 47 | $ 28200 |
| Increase December 31, 1967 | 400 | 48 | 19200 | 400 | 68 | 27200 |
| Increase December 31, 1976 | 200 | 64 | 12800 | 200 | 89 | 17800 |
| Total | 1200 | 56600 | 1200 | $ 73200 | ||
| Rough Air Dried Lumber | ||||||
| January 1, 1958 | 1500 | $44 | $ 66000 | 1500 | $ 50 | $ 75000 |
| Increase December 31, 1964 | 1000 | 47 | 47000 | 1000 | 57 | 57000 |
| Total | 2500 | $113000 | 2500 | $132000 | ||
| Rough Kiln Dried Lumber | ||||||
| January 1, 1958 | 900 | $60 | $ 54000 | 900 | $ 66 | $ 59400 |
| Increase December 31, 1970 | 400 | 63 | 25000 | 400 | 78 | 31200 |
| Total | 1300 | $ 79000 | 1300 | 90600 | ||
| Surface - Green Lumber | ||||||
| January 1, 1958 | 500 | $47 | $ 23500 | 500 | $ 53 | $ 26500 |
| Surface - Dry Lumber | ||||||
| January 1, 1958 | 1100 | $66 | $ 72600 | 1100 | $ 72 | $ 79200 |
| Increase December 31, 1968 | 400 | 73 | 25200 | 400 | 86 | 34400 |
| Increase December 31, 1976 | 2000 | 89 | $178000 | 2000 | 102 | $204000 |
| Total | 3500 | $275800 | 3500 | $317600 | ||
| 9000 | $60.88 | $547900 | 9000 | $ 71.10 | $639900 | |
| Less: Inventory per books | 547900 | |||||
| Total IRC 631(a) gain in log inventories | $ 92000 | |||||