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Ridder Newspapers, Inc. v. United States, supra (newsprint used
in connection with a newspaper publishing business); Wilkinson-
Bean v. Commissioner, 420 F.2d. at 352 (purchase and sale of
caskets maintained by a funeral home); see also Thompson Elec.,
Inc. v. Commissioner, T.C. Memo. 1995-292 (materials used by an
electrical contractor); J.P. Sheahan Associates v. Commissioner,
T.C. Memo. 1992-239 (roofing materials used in a roofing repair
business); Surtronics, Inc. v. Commissioner, T.C. Memo. 1985-277
(metals used by a taxpayer in its electroplating business). We
find critical the fact that petitioner's sale of gems was the
only source of income from his business.
Petitioner argues that he has consistently used the cash
method from the start of his business, and that the cash method
is (1) authorized by the Internal Revenue Code and (2) clearly
reflects his income. Under the facts at hand, however, we
conclude that the cash method is not an authorized method for
reporting petitioner's purchases and sales of gems.2 Because the
cash method is not an authorized method, the Commissioner did not
commit an abuse of discretion in changing petitioner's method to
an authorized method. An accrual method is authorized for the
2 In this regard, the record does not indicate that the
results under the cash method would be substantially identical
with the results under an accrual method. See Wilkinson-Bean,
Inc. v. Commissioner, 420 F.2d 352 (1st Cir. 1970), affg. T.C.
Memo. 1969-79; Ansley-Sheppard-Burgess Co. v. Commissioner, 104
T.C. 367, 377 (1995);
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