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Glossary   >   L   >   "Last-In-First-Out (LIFO)" Definition            Last-In-First-Out (LIFO) A method of valuing inventory that uses the cost of the most recent item in inventory first. Related: F.I.F.O. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Last-In-First-Out (LIFO) \ A method of valuing inventory that uses the cost of the most recent item in inventory first. Related: F.I.F.O.