English Dictionary |
LIFO
Pronunciation (US): | (GB): |
IPA (US): |
Dictionary entry overview: What does LIFO mean?
• LIFO (noun)
The noun LIFO has 1 sense:
1. inventory accounting in which the most recently acquired items are assumed to be the first sold
Familiarity information: LIFO used as a noun is very rare.
Dictionary entry details
Sense 1
Meaning:
Inventory accounting in which the most recently acquired items are assumed to be the first sold
Classified under:
Nouns denoting acts or actions
Synonyms:
last in first out; LIFO
Hypernyms ("LIFO" is a kind of...):
inventory accounting (accounting that controls and evaluates inventory)
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"He fasted for a whole year and then broke his fast with an onion." (Arabic proverb)
"Cover your candle, it will light more." (Egyptian proverb)