OPINION
SKELTON, Judge:
This is a suit by plaintiff, FCX, Inc., of Raleigh, North Carolina, for refund of income taxes and interest thereon. Plaintiff is a nonexempt farmer's cooperative having retail, wholesale, and manufacturing operations and facilities in North and South Carolina and franchised dealers in both states. It has the accrual method of accounting with its fiscal year ending June 30.
During the fiscal years of 1967 and 1968, plaintiff...
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