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Introduction

SECTION 1. PURPOSE

Internal Revenue Bulletin 2003-6 · 2026-10-03 edition · updated 2026-10-04 · United States

This revenue procedure provides a safe harbor method of accounting (the “Core Alternative Valuation” (CAV) method) for remanufacturers and rebuilders of motor vehicle parts (“remanufacturers”) and resellers of remanufactured and rebuilt motor vehicle parts (“resellers”) that use the lower of cost or market (LCM) inventory valuation method to value their inventory of cores held for remanufacturing or sale. The CAV method is provided by the Commissioner pursuant to his authority under § 446 of the Internal Revenue Code in order to minimize disputes, provide certainty, and simplify inventory computations. This revenue procedure also provides a procedure for qualifying remanufacturers and resellers currently using an LCM method to obtain automatic consent of the Commissioner to change to the CAV method. In addition, this revenue procedure provides a procedure for qualifying remanufacturers

and resellers not currently using an LCM method to obtain automatic consent to change to an LCM method in conjunction with a change to the CAV method.

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▸Contents — Internal Revenue Bulletin 2003-6
Internal Revenue Bulletin 2003-6

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