Definition: LIFO can be used in the warehouse where the first items moved out are the last to arrive in the warehouse. It is also an accounting method of valuing inventory that assumes latest goods purchased are first goods used during accounting period.
Last In, First Out (LIFO)
By Martin Murray, About.com Guide
Supply Chain Glossary
Explore Logistics / Supply Chain
Must Reads
- Small Business Guide to Manufacturing
- Exporting For Small Businesses
- Customer Relationship Management
- Creating a Logistics Strategy
Most Popular
By Category
- About.com
- Industry & Trade
- Logistics / Supply Chain
- Supply Chain Glossary
- Last In, First Out (LIFO)
©2012 About.com. All rights reserved.
A part of The New York Times Company.