LAST IN FIRST OUT

Pronunciation (US):

(GB):

IPA (US):

 Dictionary entry overview: What does last in first out mean? 

• LAST IN FIRST OUT (noun)
  The noun LAST IN FIRST OUT has 1 sense:

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

  Familiarity information: LAST IN FIRST OUT used as a noun is very rare.

 Dictionary entry details 

• LAST IN FIRST OUT (noun)

Sense 1

Meaning:

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

Classified under:

Nouns denoting acts or actions

Synonyms:

last in first out; LIFO

Hypernyms ("last in first out" is a kind of...):

inventory accounting (accounting that controls and evaluates inventory)