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  5. 795 F.2d 832 (1986)
 

HOMES BY AYRES v. C.I.R.

Nos. 85-7185, 85-7190, 85-7218 and 85-7219.

795 F.2d 832 (1986)

HOMES BY AYRES, et al., Petitioners-Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided July 28, 1986.

Attorney(s) appearing for the Case

Paul Frederic Marx, Newport Beach, Cal., for petitioners-appellants.

William Whitledge, Ann Durney, Dept. of Justice, Washington, D.C., for respondent-appellee.

Before FLETCHER, NELSON, and HALL, Circuit Judges.

CYNTHIA HOLCOMB HALL, Circuit Judge:

Taxpayers Homes by Ayres, Classic Development Corp., Roger DeYoung Construction Co., and DeYoung Construction Co. petition for review of a Tax Court decision redetermining deficiencies in their federal income taxes for the years 1976, 1977, and 1978. The Internal Revenue Service (IRS) asserted the deficiencies after taxpayers used a last-in-first-out (LIFO) inventory method to calculate their cost of homes sold. The Tax Court held...

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