last-in, first-out
A method of inventory that assumes that the goods most recently bought are the first ones to be sold, and that goods still in inventory at the end of the year are the ones bought long ago. See also first-in,first-out. ABBRV. LIFO
A method of inventory that assumes that the goods most recently bought are the first ones to be sold, and that goods still in inventory at the end of the year are the ones bought long ago. See also first-in,first-out. ABBRV. LIFO