last-in, first-out
[ last-in, furst-out, lahst- ]
/ ˈlæstˈɪn, ˈfɜrstˈaʊt, ˈlɑst- /
noun
an inventory plan based on the assumption that materials constituting manufacturing costs should be carried on the books at the market price of the last lot received. Abbreviation: LIFO
Compare first-in, first-out.
Computers.
LIFO(def 2).
Origin of last-in, first-out
First recorded in 1935–40
Words nearby last-in, first-out
last-born,
last-cyclic,
last-ditch,
last-ditch effort,
last-gasp,
last-in, first-out,
last-minute,
lastex,
lasting,
lastly,
lasègue's sign