LIFO
(redirected from last in first out)

Also found in: Dictionary/thesaurus, Financial, Encyclopedia, Wikipedia

0.01 sec.

An abbreviation for last in, first out, a method used in inventory accounting to value the merchandise of a particular business.

LIFO assumes that the last goods purchased are the first sold and, as a result, those items that remain unsold in the inventory at the end of the year are assumed to be those which were purchased first.

Cross-references

FIFO.

Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.

?Page tools

Printer friendly
Cite / link

Feedback
Add definition

Mentioned in	?		Legal browser	?		Full browser	?
FIFO			large undertaking largehearted largeness larger number larger part largess largesse largest part largiri largitas largitio larrup Las partidas lascivious Lascivious carriage lasciviousness lascivire lash lash back lassitude lassus last last act last antecedent rule Last Clear Chance last in first out last minute last minute need Last name change last of a series last offer last part Last resort Last sickness last stage last stop last will and testament lasting lasting a very short time lasting period lasting reminder lastingness Lata culpa dolo aequiparatur latch late late patens late payment lately latency lateness latent			Last Frame of Picture Last Free Day Last Friday of the Month Last Frontier Last frost Last frost last gasp last gasp last gasp Last Gasp Publishing Last Generation Korean Killers Last Generation of Syncopated Drummers Last Glacial Maximum Last Glacial-Interglacial Transition Last Great Ape organization Last Great Day Last Great Race Last Great Race last half Last Half of Darkness Last heir Last Horizon Last House on the Left last hurrah Last Hurrah, The last hurrahs Last Icon Maker Standing Last in First Drop last in first out Last In First Out Accounting Last In First Out Accounting Last In First Out Liquidation Last In First Out Liquidations Last in Line Last In, First Displayed Last in, first out Last in, first out Last in, first out Last in, first out Last in, first out Last In, First Out Accounting Last In, First Out Accounting Last In, First Out Liquidation Last In, First Out Liquidations last in, last out Last Indian Raid Museum Last Instrument Delivery Last Inter-Glacial in the Arctic Project Last Interglacial Maximum Last Issue Date Last Judgement Last Judgement Last Judgment Last Judgment Last Judgment Last Judgment Last Judgment Last Judgment, The Last Judgment, The

Legal Dictionary

Free Tools:	For surfers: Free toolbar & extensions \| Word of the Day \| Help For webmasters: Free content \| Linking \| Lookup box \| Double-click lookup

Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.

LIFO (redirected from last in first out)

Cross-references

LIFO
(redirected from last in first out)