A method of inventory valuation in which the most recent items acquired are considered the first to be sold. It affects accounting and taxation outcomes, particularly in periods of rising prices.
Last In, First Out (LIFO) is a method used in inventory management and accounting that prioritizes the most recently added inventory for distribution or recording first.
A method of valuing units of raw material or finished goods issued from stock by using the latest unit value for pricing the issues until all the quantity of stock received at that price is used up.
LIFO (Last-In-First-Out) is an inventory valuation method where the most recently produced items are considered sold first.
