LIFO
1
8.0
- noun
- /ˈlaɪfoʊ/
- Specialized
:
LIFO
- The LIFO method requires careful tracking of inventory to ensure that the last items added are the first ones removed.
All right, In a biosynthetic pathway, would you want a LIFO or a FIFO queue?
- All right, In a biosynthetic pathway, would you want a LIFO or a FIFO queue?
- But I do think that some people have a methodology which is like either LIFO or FIFO.
Examples
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Many businesses choose LIFO for tax purposes, as it can result in lower taxable income during inflation.
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This prevented the use of the LIFO or FIFO method of inventory calculation, both of which require that each unit of inventory be costed against the previous purchases.
Academic text (1992) -
LIFO must remain in effect.
Blog text (13) -
In the long run, ending LIFO would be more costly to taxpayers and society.
Blog text (13) -
Or the difference between LIFO and FIFO?
Blog text (1) -
Look, for example, at LIFO/FIFO accounting.
Blog text (26) -
Rhee is also fighting a system known as Last In, First Out (LIFO).
Academic text (2012) -
To deal with LIFO/FIFO inventory flow assumptions, a new record is created for every inventory acquisition event (and deleted when the quantity on hand for that record drops to zero).
Academic text (1996) -
To place a monetary value on the resource surrendered, the interpreter will have to consult its internal inventory records and make a flow assumption (LIFO, FIFO, average, or standard cost).
Academic text (1996) -
In accounting, using LIFO means that the most recently purchased inventory items are sold first.
Synonyms
15
6.8
A store of items where the last one added is removed first
1
9.8
A way to arrange things so the first added is the last removed
A list where the last item added is the first removed
A list where the last thing you put in comes out first
A pile where the last item put on is the first taken off
An inventory method where the newest items are counted as sold first
Surface Forms
Morphology
LIFO = last + first (semi-transparent) = L + I + F + O
LIFO is an acronym built from the phrase 'last in, first out' so the relation to the component words is direct, but understanding requires recognising the acronym and the phrasal ordering, which is domain-specific. [Postprocessing: moved 'in', 'out' from base_words to prefix]
Etymology
LIFO comes from the phrase 'last in, first out'. It means the last item added is the first one taken away, like a neat stack of plates where you always take the top plate first.