Under the first-in, first-out method, it is assumed that the first units acquired are the first ones sold; ending inventory is valued at the most recent purchase prices.

在先进先出法下，假设企业首先销售最早购入的商品，期末存货按最近的购货价格计价。

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Mutual funds use a highest in, first out method of tax treatment and portfolio tax management.

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Mr. Van Hollen also draws a bead on the last-in, first-out accounting method known as Lifo.

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Repeal the Last-In, First-Out (LIFO) method of inventory.

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