LIFO Accounting Abbreviation

LIFO has various meanings in the Accounting category. Discover the full forms, definitions, and usage contexts of LIFO in Accounting.

Last In, First Out

Most Common

A method of determining the cost of inventory used in a product. In this method, the costs of material are transferred to the product in reverse chronological order. LIFO is used to describe the movement of goods.

Accounting
Last In First Out
Accounting
Last-In, First Out
Accounting

Citation

Did You Mean?

Last updated:

More LIFO Definitions