In terms of accounting policies, firms using the last-in, first-out (LIFO) inventory cost valuation are more closely matching costs and prices in an inflationary environment.

FORBES: What You Should Know About Inflation

Repeal the Last-In, First-Out (LIFO) method of inventory.

FORBES: Senate Proposal For Tax Reform, Part 1: The Buffett Rule Becomes (Proposed) Reality

Mr. Van Hollen also draws a bead on the last-in, first-out accounting method known as Lifo.

WSJ: Merrill Matthews: About Those Tax Breaks for Big Oil . . .