Exhibit 800-2
Section 810, General
| Log inventories-LIFO Values | ||||||
| Per Books (At Cost) |
Year Ended Dec. 31, 1976 |
|||||
M.B.F. |
Unit Cost | Amount |
M.B.F. |
Unit Cost | Amount |
|
| Felled Log Inventory | ||||||
| January 1, 1958 | 9000 | $18 | $162000 | 9000 | $25 | $225000 |
| Increase December 31, 1963 | 1500 | 20 | 30000 | 1500 | 30 | 45000 |
| Total | 10500 | $192000 | 10500(A) | $270000 | ||
| Bucking Inventory | ||||||
| January 1, 1958 | 7500 | $ 2.50 | $ 18750 | |||
| Increase December 31, 1961 | 500 | 3.00 | 1500 | |||
| Increase December 31, 1976 | 2500 | 4.50 | 11250 | _______ | _______ | |
| Total | 10500 | $ 31500 | 10500 | $ 31500 | ||
| Decking Inventory | ||||||
| January 1, 1958 | 3000 | $20 | $ 60000 | |||
| Increase December 31, 1963 | 1500 | 23 | 34500 | _______ | _______ | |
| Total | 4500 | $ 94500 | 4500 | $ 94500 | ||
| Pond Inventory | ||||||
| January 1, 1958 | 2500 | $31 | $ 77500 | 2500 | $45 | $112500 |
| Increase December 31, 1964 | 500 | 35 | 17500 | 500 | 55 | 27500 |
| Increase December 31, 1976 | 1500 | 49 | 73500 | 1500 | 74 | 111000 |
| Total | 4500 | $168500 | 4500(A) | $251000 | ||
| Peeling Log Inventory | ||||||
| January 1, 1958 | 1000 | $ 2.00 | $ 2000 | |||
| Increase December 31, 1967 | 200 | 3.25 | 650 | _______ | _______ | |
| Total | 1200 | $ 2650 | 1200 | $ 2650 | ||
| Total Log Inventory | 15000 | $489150 | 15000(A) | $649650 | ||
| Less: Log Inventory per books | 489150 |
|||||
| Total IRC 631(a) gain in log inventories | $160500 | |||||
(A) Production footage only. Footages reflected for bucking, decking and peeling are included in felled log and pond inventory