Rev. Rul. 54-145

The following price indexes for December 1953, published by the Bureau of Labor Statistics on March 15, 1954, for use by variety stores employing the retail inventory and elective inventory methods, are accepted by the Internal Revenue Service pursuant to Treasury Decision 5605, C.B. 1948-1, 16, and Mimeograph 6244, C.B. 1948-1, 21, for appropriate application to inventories for taxable years of 12 months ended on November 30, 1953, and December 31, 1953. Conditions under which variety stores may employ these indexes and a list of departments included in each index group are set forth in Revenue Ruling 54-63, page 33, this Bulletin.