last in first out

1. 1.

   inventory accounting in which the most recently acquired items are assumed to be the first sold

   SynonymsLIFO

   Broaderinventory accounting

Questions about last in first out

What does last in first out mean?

last in first out means "inventory accounting in which the most recently acquired items are assumed to be the first sold".

What is another word for last in first out?

Close synonyms include LIFO. Each sense on this page lists its own synonyms, because a word with several meanings rarely has one substitute that works for all of them.

Is last in first out a common word?

last in first out is banded "Rare" — specialist or archaic — most readers will not have met it. The band comes from how often the word appears in a large corpus of everyday English, not from an editor's impression.