LIFO stands for __________.
Understand the Problem
The question is asking for the meaning of the acronym 'LIFO,' which commonly refers to a specific method used in computing and inventory management.
Answer
Last in, First out
The final answer is Last in, First out
Answer for screen readers
The final answer is Last in, First out
More Information
LIFO is an accounting method used to manage inventory, where the latest added items are the first to be used or sold.
Tips
common mistakes made when solving the problem
Sources
- What Is LIFO Method? Definition and Example - FreshBooks - freshbooks.com
- FIFO and LIFO accounting - Wikipedia - en.wikipedia.org
- What Is The LIFO Method? Definition & Examples - Forbes - forbes.com
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