LIFO

LIFO stands for last in, first out. LIFO is a phrase describing any technique in which the newest item is counted or processed first, with each older item being processed in reverse chronological order after that.

See LIFO accounting.

[Last reviewed in July of 2023 by the Wex Definitions Team]

Wex

• COMMERCE
• commercial activities
• accounting
• wex definitions
• commercial transactions
• money and financial problems