Industrial or computer processing sequence (abbr.)

• Accounting abbr
• Inventory evaluation acronym
• Inventory evaluation meth
• Inventory accounting in which the most recently acquired items are assumed to be the first sold
• Accounting principle, for short
• Accounting acronym
• Acctg. principle

Wikipedia Word definitions in Wikipedia
Last in First Out (LIFO) (or otherwise known as "Last One Hired is the First One Fired" is a policy often used by school districts and other employers to prioritize layoffs by seniority . Under LIFO layoff rules, junior teachers and other employees lose ...