You can usually rent a bear canister from the permitting agency very cheaply. I have my own so I don't know the price for sure, but I think it's only $5 per trip.
They have large steel bear boxes at the Portal to store your food in while you're there. Don't leave food, toiletries, or scented items in your vehicle. A fed bear is a dead bear.
Here's a nice brochure with good basic info on wildlife, weather, leave no trace, and other stuff pertinent to different areas within Inyo NF. Bears on page 2.
http://www.fs.usda.gov/Internet/FSE_DOCUMENTS/stelprdb5324602.pdf
