LIFO

Definition

Last In First Out. A method of valuing inventory in which the items acquired last are treated as the ones sold first.

Reproduction of all or part of this glossary and/or this page, in any format, without written consent is prohibited. If you have questions about this dictionary please feel free to contact us feedback\@\investorguide.com

Mentioned in these terms

LIFO reserve

Related Terms on BusinessDictionary

First-in, last-out (FILO)
first-in, first-out (FIFO)

inventory value

Popular 'Accounting' Terms

current ratio
equity
working capital
asset
EBITDA

revenue
net income
negotiable
net profit
net worth

LIFO in the news

Enter your email address to get our free Term of the Day newsletter!

Tools

LIFO is ...

... part of the Accounting subject.

Nearby Terms

lifecycle fund
lifetime cap
lifetime learning credit
lifetime reverse mortgage
LIFFE
LIFO
LIFO reserve
lifting a leg
light crude oil
like-for-like sales
like-kind exchange