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last-in, first-out

American  
[last-in, furst-out, lahst-] / ˈlæstˈɪn, ˈfɜrstˈaʊt, ˈlɑst- /

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.

Etymology

Origin of last-in, first-out

First recorded in 1935–40

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

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

From Barron's • Oct. 2, 2025

In 2002, Amazon changed the way it accounted for inventory, from the last-in first-out, or LIFO, system to first-in first-out, or FIFO.

From BusinessWeek • Oct. 10, 2013

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.