For purposes of Sec. 751, inventory includes all of the following except

Name: For purposes of Sec. 751, inventory includes all of the following except
Brand: Quizplus
Rating: 4.8 (57 reviews)

Question

Quizplus · Accepted Answer

Inventory, as defined by Sec. 751, includes items held for sale in the ordinary course of business and other property that would be included in inventory under the taxpayer's method of accounting. However, capital assets or 1231 property are specifically excluded from the definition of inventory in Sec. 751. Therefore, choice C is the correct answer.

For Purposes of Sec