Accounting Glossary: Last-In-First-Out (LIFO)

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Last-In-First-Out (LIFO):
The letters LIFO represents "last-in-first-out". It is an inventory cost flow method whereby the last goods purchased are assumed to be the first goods sold by the company so that the ending inventory is priced as though the remaining items were the first goods purchased.
Liabilities
LIFO (Last in, first out)
Line Of Credit
Liquidity
Long-Term Debts
Long-Term Liabilities

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Accounting Glossary: Last-In-First-Out (LIFO)