LIFO

American  

[lahy-foh] / ˈlaɪ foʊ /

noun

1. last-in, first-out.

2. Computers. a data storage and retrieval technique, usually implemented using a queue, in which the last item stored is the first item retrieved.

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LIFO British  

/ ˈlaɪfəʊ /

acronym

1. last in, first out (as an accounting principle in sorting stock) Compare FIFO

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Etymology

Origin of LIFO

l(ast) i(n,) f(irst) o(ut)

Example Sentences

The company said the decrease in gross margin was driven by a 212-basis point, non-cash impact from an accounting-related charge known as LIFO.

From The Wall Street Journal • Dec. 9, 2025

In 2002, Amazon changed the way it accounted for inventory, from the last-in first-out, or LIFO, system to first-in first-out, or FIFO.

From BusinessWeek • Oct. 10, 2013

With last-in-first-out, or LIFO, companies can assume for cost accounting that their most recently acquired inventory, usually the most expensive, was sold first.

From Reuters • Jul. 25, 2011

Last week Manhattan's R. H. Macy & Co. won a test case in court against the Government that reaffirmed its right to use LIFO, entitled it to tax refunds that may total $9,000,000.

From Time Magazine Archive