LIFO

Definition

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

Use LIFO in a sentence

I liked our Lifo strategy, which meant we were treating the items we acquired last as the ones sold first.

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The LIFO inventory strategy was optimal due to the nature of the business and length of time goods stayed in inventory.

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The company uses the last in first out (LIFO) method to sell goods, therefore selling first the items they received most recently.

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Mentioned in these terms

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LIFFE LIFO reserve