N.Y. Comp. Codes R. & Regs. tit. 1, § 224.7 – Inventory records, retail establishments.

(a) A retailer selling automotive fuel shall keep daily inventory records. Records shall be kept for each storage tank (or battery of tanks if they are interconnected) and shall include measurements of:
1. (1) inventory on hand;
2. (2) deliveries;
3. (3) sales or other use;
4. (4) losses or gains; and
5. (5) bottom water level.
(b) Reconciliation of records shall be kept current.
(c) Water in storage tanks.
A retailer shall remove the bottom water from any storage tank used to store automotive fuel within 48 hours after the daily inventory reconciliation indicates a bottom water level exceeding 1 inch (2.5 centimeters).
(d) All records required in this section shall be safely preserved on the premises for six months, and maintained for five years in such manner as to insure their security and accessibility for inspection by weights and measures officials.