Skip to main content
Select Source:

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.

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"LIFO." West's Encyclopedia of American Law. . Encyclopedia.com. 16 Aug. 2017 <http://www.encyclopedia.com>.

"LIFO." West's Encyclopedia of American Law. . Encyclopedia.com. (August 16, 2017). http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/lifo

"LIFO." West's Encyclopedia of American Law. . Retrieved August 16, 2017 from Encyclopedia.com: http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/lifo

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.

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"LIFO." A Dictionary of Computing. . Encyclopedia.com. 16 Aug. 2017 <http://www.encyclopedia.com>.

"LIFO." A Dictionary of Computing. . Encyclopedia.com. (August 16, 2017). http://www.encyclopedia.com/computing/dictionaries-thesauruses-pictures-and-press-releases/lifo

"LIFO." A Dictionary of Computing. . Retrieved August 16, 2017 from Encyclopedia.com: http://www.encyclopedia.com/computing/dictionaries-thesauruses-pictures-and-press-releases/lifo

LIFO

LIFO (ˈlaɪfəʊ) Accounting, Computing last in, first out

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"LIFO." The Oxford Dictionary of Abbreviations. . Encyclopedia.com. 16 Aug. 2017 <http://www.encyclopedia.com>.

"LIFO." The Oxford Dictionary of Abbreviations. . Encyclopedia.com. (August 16, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/lifo

"LIFO." The Oxford Dictionary of Abbreviations. . Retrieved August 16, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/lifo