Last In, First Out (LIFO)




Used in inventory accounting terminology to reflect the fact that sales are made against the latest inventory purchases, which tends to minimize inventory profits and losses. Contrast with First In, First Out (FIFO).




 
RELATED PRODUCTS

Salary Assessor

Reports "up to the present day" competitive wage, salary, and incentive survey data. Provides salary ranges and median/means for 5,400 position in 370 U.S. and Canadian metro areas.


       Download Product Demo        Schedule Guided Tour