LIFO

Pronunciation (US):

(GB):

 I. (noun) 

Sense 1

Meaning:

Inventory accounting in which the most recently acquired items are assumed to be the first sold

Synonyms:

last in first out; LIFO

Classified under:

Nouns denoting acts or actions

Hypernyms ("LIFO" is a kind of...):

inventory accounting (accounting that controls and evaluates inventory)

Credits