Encyclopedia

LIFO


LIFO is a method allowing material values to be assessed at the prices of the latest purchases; expenses are written off starting with the cost of the most recently acquired materials, then the previous ones, and so on.

Source: "Industry-specific features of the composition of costs included in the cost of production for enterprises of the forest industry complex" (approved by the Ministry of Economic Development of Russia on 19.10.1994) (with amendments from 26.12.2002) (together with "Methodological Guidelines (Instruction) on planning, accounting and costing of the cost of production for the forest industry complex", approved by the Ministry of Economic Development of Russia on 16.07.1999)

Морфология

Род

Понятие «лифо» рода.

Склонение и число

Падеж Единственное число Множественное число
Р лифо лифо
Д лифо лифо
В лифо лифо
Т лифо лифо
П лифо лифо
Laws with commentary

Codes and federal laws