Last in first out: Difference between revisions
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imported>Doug Williamson (Classify page.) |
imported>Doug Williamson (Update to 'inventory'.) |
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''Accounting''. | ''Accounting''. | ||
A method of allocating | A method of allocating inventory for valuation purposes which assumes that the inventory acquired or produced last is used first. | ||
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* [[Inventory]] | * [[Inventory]] | ||
* [[Stock]] | * [[Stock]] | ||
* [[Weighted average cost]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:Liquidity_management]] | [[Category:Liquidity_management]] | ||
Revision as of 07:57, 24 August 2019
(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.
