Law Dictionary

last in, first out


Legal Definition of last in, first out

  1. :  being or relating to a method of valuing inventories by which items from the last lot received are assumed to be sold first and all requisitions are priced at the cost per item of the lot last stocked — compare first in, first out

Seen and Heard

What made you want to look up last in, first out? Please tell us where you read or heard it (including the quote, if possible).


feeling or affected by lethargy

Get Word of the Day daily email!