| NOUN | act | last in first out, LIFO | inventory accounting in which the most recently acquired items are assumed to be the first sold |
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| Meaning | inventory accounting in which the most recently acquired items are assumed to be the first sold. | |
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| Synonym | LIFO | |
| Broader | inventory accounting | accounting that controls and evaluates inventory |
| Spanish | LIFO | |
| Catalan | LIFO | |
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