There is a newer version of the North Carolina General Statutes
2010 North Carolina Code
Chapter 105 Taxation.
Article 4 - Income Tax.
105-134.8. Inventory.
NC Gen Stat § 105-134.8 What's This?
105‑134.8. Inventory.
Whenever, in the opinion of the Secretary, it is necessary in order clearly to determine the income of any taxpayer, inventories shall be taken by the taxpayer as prescribed by the Secretary, conforming as nearly as possible to the best accounting practice in the trade or business and most clearly reflecting the income. (1989, c. 728, s. 1.4.)
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