TANNENWALD, Judge:
Respondent determined deficiencies in petitioner's income tax for the taxable years ended November 30, 1960, 1961, and 1962, in the amounts of $32,962.47, $4,218.02, and $979.78, respectively.
Petitioner having conceded all other items in the deficiency notice, two issues remain for our consideration:
(1) Was respondent entitled to require petitioner to include overhead costs in inventory values instead of deducting such costs...
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