last-in, first-out

[last-in, furst-out, lahst-]

noun

1. an inventory plan based on the assumption that materials constituting manufacturing costs should be carried on the books at the market price of the last lot received. LIFO

2. Computers.,  LIFO.

Word History and Origins

Origin of last-in, first-out¹

First recorded in 1935–40

Example Sentences

The company uses last-in, first-out accounting, a method that counts the most recently produced items as sold first.

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That may lead to a reversal of the typical “last-in, first-out” pattern that has been common in other downturns.

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“We have a last-in, first-out labor market, and disabled people are often among the last in and the first out,” said Adam Ozimek, chief economist at the Economic Innovation Group, a Washington research organization.

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The Star Tribune originally reported on the agreement’s “seniority-disrupting language” in June, saying that the last-in, first-out policy when it comes to handling layoffs had protected a higher percentage of white teachers.

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Because of funding cuts during the recession and “last-in, first-out” seniority rules, Melvoin was laid off and had to return as a long-term substitute teacher before he was officially rehired.

Read more on Los Angeles Times