LIFO UK/ˈlaɪfəʊ/ US/ˈlifoʊ/ uncommon noun 1. inventory accounting in which the most recently acquired items are assumed to be the first sold Synonymslast in first out Related words Broader terms inventory accounting WordNet 2.1 (Princeton University). Wiktionary (CC BY-SA). CMU Pronouncing Dictionary. WordNet 2.1 Copyright Princeton University. All rights reserved.
