Last in first out: Difference between revisions
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imported>Doug Williamson (Update to 'inventory'.) |
imported>Doug Williamson (Add link.) |
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(LIFO). | (LIFO). | ||
1. | 1. ''Accounting''. | ||
''Accounting''. | |||
A method of allocating inventory for valuation purposes which assumes that the inventory acquired or produced last is used first. | A method of allocating inventory for valuation purposes which assumes that the inventory acquired or produced last is used first. | ||
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== See also == | == See also == | ||
* [[First in first out]] | * [[First in first out]] | ||
* [[IAS 2]] | |||
* [[Inventory]] | * [[Inventory]] | ||
* [[Redundancy]] | |||
* [[Stock]] | * [[Stock]] | ||
* [[Weighted average cost]] | * [[Weighted average cost]] | ||
Latest revision as of 23:58, 2 May 2020
(LIFO).
1. Accounting.
A method of allocating inventory for valuation purposes which assumes that the inventory acquired or produced last is used first.
2.
A method of selecting staff to be made redundant, the most recently joined staff being the first to be selected for redundancy.
