| / English Dictionary |
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)
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