Super Finance Glossary
Over 10,000 financial glossary terms...
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Searched for Last in, first out
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Last In, First Out (LIFO)
Definition: An accounting method that fixes the cost of goods sold to the most recent purchases. Hence, if prices are generally rising, LIFO will lead to lower accounting profitability.
Definition: An accounting method that fixes the cost of goods sold to the most recent purchases. Hence, if prices are generally rising, LIFO will lead to lower accounting profitability.
