105-134.8. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Inventory.

Whenever, in the opinion of the Secretary, it is necessary in order clearly to determine the income of any taxpayer, inventories shall be taken by the taxpayer as prescribed by the Secretary, conforming as nearly as possible to the best accounting practice in the trade or business and most clearly reflecting the income. (1989, c. 728, s. 1.4; 2013-316, s. 1.1(b).)