How does last in first out work
by Mike_B
Sep 30, · Last-in First-out (LIFO) is an inventory Inventory Inventory is a current asset account found on the balance sheet, consisting of all raw materials, work-in-progress, and finished goods that a valuation method based on the assumption that assets produced or acquired last are the first to be expensed. In other words, under the last-in, first-out method, Estimated Reading Time: 8 mins. Aug 07, · However, the enactment of the age discrimination legislation in has made the use of 'last in, first out' less straightforward. If the age profile of your workforce means that most of those selected for redundancy on a 'last in, first out' basis are younger employees, you could lay yourselves open to the risk of claims for indirect age discrimination. Sep 26, · LIFO is an abbreviation for last in, first out. It is a method for handling data structures where the first element is processed last and the last element is processed first. Real-life example: In this example, following things are to be considered: There is a bucket that holds balls. Different types of balls are entered into the Modernalternativemamated Reading Time: 1 min. Read more