Search results
Results from the WOW.Com Content Network
"LIFO" stands for last-in, first-out, meaning that the most recently purchased items are recorded as sold first. Since the 1970s, some U.S. companies shifted towards the use of LIFO, which reduces their income taxes in times of inflation, but since International Financial Reporting Standards (IFRS) banned LIFO, more companies returned to FIFO.
Last In First Out. FIFO and LIFO accounting; Stack (abstract data type), in computing, a collection data structure providing last-in-first-out semantics; also ...
These methods produce different results because their flow of costs are based upon different assumptions. The FIFO method bases its cost flow on the chronological order in which purchases are made, while the LIFO method bases its cost flow on a reverse chronological order. The average cost method produces a cost flow based on a weighted average ...
FIFO's opposite is LIFO, last-in-first-out, where the youngest entry or "top of the stack" is processed first. [2] A priority queue is neither FIFO or LIFO but may adopt similar behaviour temporarily or by default. Queueing theory encompasses these methods for processing data structures, as well as interactions between strict-FIFO queues.
The order in which an element added to or removed from a stack is described as last in, first out, referred to by the acronym LIFO. [ nb 1 ] As with a stack of physical objects, this structure makes it easy to take an item off the top of the stack, but accessing a datum deeper in the stack may require removing multiple other items first.
Last-In First-Out (LIFO) is the reverse of FIFO. Some systems permit determining the costs of goods at the time acquired or made, but assigning costs to goods sold under the assumption that the goods made or acquired last are sold first. Costs of specific goods acquired or made are added to a pool of costs for the type of goods.
LIFO's proponents claim that it protects teachers with tenure and gives them job stability, and that it is an easily administered way of accomplishing layoffs following a budget cut. LIFO's critics respond that it is bad for students. They prefer that the best teachers remain regardless of how long they have been teaching.
For example, $225K would be understood to mean $225,000, and $3.6K would be understood to mean $3,600. Multiple K's are not commonly used to represent larger numbers. In other words, it would look odd to use $1.2KK to represent $1,200,000. Ke – Is used as an abbreviation for Cost of Equity (COE).