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Last in first out lifo

• A method of valuing inventory that uses the cost of the most recent item in inventory first.

• Is the accounting technique whereby the last items in inventory are paired against the first items sold out of inventory.

 
 Embedded terms in definition
 Inventory
 
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Beware of fraud originating in phone messages and faxes: FDIC Consumer News has warned before about crooks who call or e-mail consumers and pretend to be legitimate companies or government agencies wanting people to "verify" or "resubmit" (divulge) confidential information such as bank account or credit card numbers as well as Social Security numbers, passwords and personal identification numbers. Here are variations to know about. More...

Avoid having your ego so close to your position that when your position falls, your ego goes with it. - Colin Powell

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