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Directory Results for Revenue Procedure 1998-49 - LIFO; price indexes; inventory price computation method.. Guidance is provided to taxpayers using the dollar value last- in, first-out (LIFO) inventory method and the inventory price index computation (IPIC) to Revenue Procedure 1998-50 - 1040 IRS e-file program.. Participants in the Form 1040 IRS e-file program are informed of their obligations to the Service, taxpayers, and other participants. Rev. Proc. 97- 60 superseded.