last-in,first-out

last-in,first-out
last-in, first-out (lăstʹĭnʹ fûrstʹoutʹ) n.
A method of inventory accounting in which the most recently acquired items are assumed to have been the first sold. In a period of rising prices, this method yields a lower ending inventory, a higher cost of goods sold, a lower gross profit (assuming constant price), and a lower taxable income. Also called LIFO.

* * *


Universalium. 2010.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • last-in first-out — adjective Date: 1934 of, relating to, or being a method of inventory accounting that values stock on hand according to costs at the time of acquisition and not according to the cost of replacement …   New Collegiate Dictionary

  • Last and First Men — infobox Book | name = Last and First Men image caption = First edition cover author = Olaf Stapledon illustrator = cover artist = country = United Kingdom language = English genre = Science fiction novel publisher = Methuen release date = 1930… …   Wikipedia

  • First-mover advantage — is the advantage gained by the initial occupant of a market segment. This advantage may stem from the fact that the first entrant can gain control of resources that followers may not be able to match.cite book |last=Grant |first=Robert M.… …   Wikipedia

  • First Light (Preston book) — First Light: The Search for the Edge of the Universe is a 1987 non fiction book on astronomy and astronomers by Richard Preston.The title refers to the astronomical term first light, which is when a telescope is first used to take an astronomical …   Wikipedia

  • First Lady of the United States — is the unofficial title of the hostess of the White House. Because this position is traditionally filled by the wife of the President of the United States, the title is sometimes taken to apply only to the wife of a sitting President. However,… …   Wikipedia

  • First-Foot — First Footing, in British folklore, especially that of the north and Scotland, is the first person who crosses the threshold after midnight at the end of New Year s Eve (in other words, the first person to enter the house on New Year s Day).… …   Wikipedia

  • First Fruits — are a religious offering of the first agricultural produce of the harvest. In classical Greek, Roman, Hebrew and Christian religions, the first fruits were offered to the temple or church. First Fruits were often a primary source of income to… …   Wikipedia

  • First Indochina War — Infobox Military Conflict conflict=First Indochina War partof= caption=A French Foreign Legion unit patrols in a communist controlled area. date=December 19 1946 ndash; August 1 1954 place=French Indochina, mainly North Vietnam casus=The Haiphong …   Wikipedia

  • First Vision — The First Vision (also called the grove experience) is a religious belief held by many members of the Latter Day Saint movement (commonly called Mormonism) that God the Father and Jesus Christ appeared to the fourteen year old Joseph Smith, Jr.… …   Wikipedia

  • Last.fm — Infobox Website name = Last.fm favicon = caption = url = [http://www.last.fm/ www.last.fm] commercial = Yes type = Music, Statistics Community registration = Free, or subscribe for £1.50 per month ($3 USD) owner = CBS Interactive language =… …   Wikipedia

  • Out of the Unknown — For the collection of short stories by A. E. van Vogt and E. Mayne Hull, see Out of the Unknown (collection). Out of the Unknown Format Anthology Science fiction Drama …   Wikipedia

Share the article and excerpts

Direct link
https://universalium.en-academic.com/25573/last-in%2Cfirst-out Do a right-click on the link above
and select “Copy Link”