What LAST IN, FIRST OUT (LIFO) means: An accounting method for valuing inventories for tax purposes. Under this method, the last items purchased are treated as being the first items sold. Ending inventory is valued using the cost of the items with the earlier purchase dates.
- Definition Lump-Sum Distribution:
- Dictionary distribution is the payment of the entire balance in an individual's employer-provided retirement plan in one calendar year. When figuring whether a distribution is a lump-sum distribution last in, first out (lifo) definition.
- Definition Load:
- Dictionary A load is a sales charge imposed when mutual fund shares are purchased or redeemed last in, first out (lifo) explain.
- Definition Lifetime Learning Credit:
- Dictionary credit equal to 20% of the first $10,000 of qualified higher education tuition and fees paid during the year on behalf of the taxpayer, his or her spouse, or his or her dependents. Students attending last in, first out (lifo) what is.
- Definition Land Value:
- Dictionary land in a sale of real property that includes both land and improvements to the land, suhc as a building. Such a sale must be reported as two sales on the tax return: (1) land, and (2) improvements last in, first out (lifo) meaning.
How works Last In, First Out (LIFO meaning in Tax definitions L .
