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Glossary of the 1993 SNA - Definition of Term

Term	Last-in-first-out (LIFO)
Definition	Last-in-first-out (LIFO) is an inventory valuation method based on the assumption that the first good withdrawn from inventory is the last one which entered.
Paragraphs	6.70.

It is acknowledged that this glossary uses descriptions of the OECD glossary of statistical terms, the Glossary of the System of National Accounts 1993 and the UN classifications registry.

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