United States Board of Tax Appeals November 16, 1925, Docket No. 2400 (Appeal of Orents Department Stores, Inc.)

*53OPINION.

Trammell:

The taxpayer took its closing inventory for 1918 on the basis of cost and undertook to reduce it to an alleged market by a straight reduction of 10 per cent with respect to certain goods which were claimed to have been shopworn or out of style. The Commissioner properly disallowed such a reduction.