last-in, first-out

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

  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. Abbreviation: LIFO: Compare first-in, first-out.

  2. Computers. LIFO (def. 2).

Origin of last-in, first-out

First recorded in 1935–40

Words Nearby last-in, first-out Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023