LIFO
Newest exits earliest
LIFO stands for "last in, first out"—a method where the most recently added item is the first removed.
In accounting, LIFO inventory valuation assumes goods sold come from the newest stock.
In computing, it describes stack data structures: The function calls operate on a LIFO basis.
Contrast with FIFO (first in, first out).
Items piled vertically
- pushForce something away
- popFizzy drink, regionally
- algorithmFinite problem-solving procedure
- data structureFormat for organizing information
queue · buffer · memory · pointer · array · linked list · recursion · undo
Direct expenses for inventory sold
- FIFOEarliest in, earliest out
- taxationCompulsory government revenue collection
- IRSFederal tax collector
- balance sheetAssets-liabilities-equity report
financial statements · profit margin · gross income · tax liability · assets · reserves · inflation · expense
Bulk goods storage building
- stockpileAccumulated reserve supply
- storageSpace for keeping goods
- palletStackable freight platform
- shelvingHorizontal storage surfaces
dispatch · unloading · retrieval · stock rotation · replenishment · turnover · backlog · sequencing
stack
Items piled vertically
data structure · queue · buffer · memory · pointer · array · linked list · recursion · undo · back button
cost of goods sold
Direct expenses for inventory sold
- FIFOEarliest in, earliest out
- taxationCompulsory government revenue collection
- IRSFederal tax collector
balance sheet · financial statements · profit margin · gross income · tax liability · assets · reserves · inflation · expense · GAAP
warehouse
Bulk goods storage building
shelving · dispatch · unloading · retrieval · stock rotation · replenishment · turnover · backlog · sequencing · accessibility
LIFOFIFO
Earliest in, earliest out
first in first out · queue · chronological order · breadth-first · round-robin
- real lifeExistence beyond imagination
- life supportSystems maintaining vital functions
- life and deathMatters of survival
- for lifePermanent, until death
- come to lifeBegin showing vitality
- daily lifeRegular everyday activities