LIFO
LIFO
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.
LIFO
LIFO or lifo Acronym for last in first out. LIFO list is another name for stack. A stack implemented in hardware is sometimes referred to as a lifo.
More From encyclopedia.com
You Might Also Like
NEARBY TERMS
LIFO