Legal Opinion
Monfort of Colorado, Inc., Successor in Interest to Monfort Feed Lots, Inc. v. United States
Court of Appeals for the Tenth Circuit
Decided August 8, 1977No. 76-1388PublishedCited by 3 opinions
1Opinion of the Court
BARRETT, Circuit Judge.
The United States of America (IRS) appeals from an adverse judgment after trial to the court in a tax refund suit initiated by appellee, Monfort of Colorado, Inc. (Mon-fort), as successor in interest to Monfort Feed Lots, Inc. The relevant facts are not in dispute.
Monfort is a large cattle finisher. It buys cattle from breeders and then fattens them in feedlots. Since 1951 it has consistently utilized the LIFO (last in first out) method of establishing its inventories and costs of sales for income tax purposes. LIFO is a generally accepted and approved accounting…
2Cases cited18 opinions
- Zenith Radio Corp. v. Hazeltine Research, Inc.Supreme Court of the United States · 1969
- United States v. AndersonSupreme Court of the United States · 1926
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Brown v. HelveringSupreme Court of the United States · 1934
- Graver Tank & Mfg. Co. v. Linde Air Products Co.Supreme Court of the United States · 1949
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3Cited by3 opinions
- United States v. Ingredient Technology Corporation, Formerly Known as Sucrest Corporation, and Robert M. RapaportCourt of Appeals for the Second Circuit · 1983
- Harmon City, Inc., a Utah Corporation v. United StatesCourt of Appeals for the Tenth Circuit · 1984
- Illinois Cereal Mills, Inc. v. CommissionerUnited States Tax Court · 1983