Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined a deficiency in petitioner's income tax for the calendar year 1954 in the amount of $75,866.13.
The issue for decision is whether petitioner's opening inventory for the year 1954 should be in the same amount as its closing inventory for 1953 as determined in a prior opinion of this Court, even though its closing inventory for 1954 is valued at an amount higher than such inventory...
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