Glossary

Last In, First Out (LIFO)

Tags: Glossary

Inventory management method where the recently bought inventory is first sent out to the customers.

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What is Last In, First Out (LIFO)?

Last In, First Out (LIFO) is a method of data processing and inventory management in which the last item entered is the first item to be removed. It is commonly used in the management of inventory, where the items that were added most recently are the first to be sold. 

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