DIVISION 2. OTHER TAXES 6001-60709›PART 11. CORPORATION TAX LAW 23001-25141›CHAPTER 13. Accounting Periods and Methods of Accounting 24631-24726›ARTICLE 5. Inventories 24701-24710

§ 24701

California Revenue and Taxation Code · 2018-11 edition · updated 2026-10-04 · California

(a) Section 471 of the Internal Revenue Code, relating to the general rule for inventories, shall apply, except as otherwise provided.

(b) Section 472 of the Internal Revenue Code, relating to last-in, first-out inventories, shall apply, except as otherwise provided.

(Amended by Stats. 1993, Ch. 877, Sec. 74. Effective October 6, 1993.)

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California Revenue and Taxation Code

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