LIFO method definition

LIFO method. (last in-first out) is the inventory management method by which the origin of the number of fungible goods or materials last received in the inventory is considered to be the origin of the same number of fungible goods or materials first withdrawn from the inventory; or
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LIFO method. ’ means the method by which the origin of fungible goods last re- ceived in finished goods inventory is considered to be the origin of fungible goods first withdrawn from finished goods inventory;
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LIFO method means the method by which the origin of fungible materials last received in materials inventory is considered to be the origin of fungible materials first withdrawn from materials inventory. (méthode DEPS)
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Examples of LIFO method in a sentence

  • An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time.

  • An actual valuation of inventory under the LIFO method can only be made at the end of each year based on the inventory levels and costs at that time.

  • Gains are calculated based on a last in, first out (LIFO) method for purposes of this restriction.

  • Disgorgement calculations are determined by the Last-in, First-out (LIFO) method.

  • The holding period is measured from the time of the most recent purchase of shares of the relevant Covered Security by the Employee (LIFO method).

  • Applied uses the last-in, first-out (LIFO) method of valuing U.S. inventory.

  • Also, attach a copy of allForms 970, Application To Use LIFO Inventory Method, filed to adopt or expand the use of the LIFO method.

  • When classifying compensated absences into current and noncurrent, leave is considered taken using a last-in, first-out (LIFO) method.

  • An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels and costs at that time.

  • The excess of current cost over LIFO inventory value and the impact on earnings of using the LIFO method are not material.


More Definitions of LIFO method

LIFO method means the method by which the value of non-originating materials last received in materials inventory, determined in accordance with section 7 of these Regulations, is considered to be the value of non- originating materials used in the production of the good first shipped to the buyer of the good; (méthode DEPS)
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LIFO method. ’ means the method by which the value of non-originating mate- rials last received in materials inventory, determined in accordance with section
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Related to LIFO method

  • Alternative method means any method of sampling and analyzing for an air pollutant that is not a reference or equivalent method but that has been demonstrated to the satisfaction of the commissioner and the U.S. EPA to, in specific cases, produce results adequate for a determination of compliance.

  • Reference method means any direct test method of sampling and analyzing for an air pollutant as specified in 40 CFR 60, Appendix A*.

  • Settlement Method means, with respect to any conversion of Notes, Physical Settlement, Cash Settlement or Combination Settlement, as elected (or deemed to have been elected) by the Company.

  • Payment Method means a payment method that Stripe accepts as part of the Stripe Payments Services (e.g., a Visa credit card, Klarna).

  • Equivalent method means any method of sampling and analyzing for an air pollutant that has been demonstrated to the satisfaction of the commissioner and the U.S. EPA to have a consistent and quantitatively known relationship to the reference method under specific conditions.

  • Licensed Method means any method that is covered by Patent Rights the use of which would constitute, but for the license granted to LICENSEE under this Agreement, an infringement of any pending or issued and unexpired claim within Patent Rights.

  • Standard Methods means the examination and analytical procedures set forth in the most recent edition of "Standard Methods for the Examination of Water and Wastewater" published jointly by the American Public Health Association, the American Water Works Association, and the Water Pollution Control Federation.

  • Method means “a manner of proceeding” or “a procedure based on a system of rules for the acquisition of knowledge or practical results”. Mathematics is the science or teaching of numbers, figures and sets, abstractions therefrom, the possible linkages and relations between them. A manner of proceeding, or a procedure in the field of mathematics is also called a (mathematical) algorithm. The latter term occurs much more frequently than the term “mathematical method”, especially in the literature (and also in U.S. patent law).

  • Simple Interest Method means the method of allocating a fixed level payment to principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of the fixed rate of interest multiplied by the unpaid principal balance multiplied by the period of time elapsed since the preceding payment of interest was made and the remainder of such payment is allocable to principal.

  • Balance Computation Method We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the balance in the account each day. Compounding and Crediting: Interest is compounded daily and calculated on a 365/366 day basis. Interest is credited on a monthly basis.

  • Actuarial method means the method, defined by rules adopted by the administrator, of allocating payments made on debt between the amount financed and the finance charge pursuant to which a payment is applied first to the accumulated finance charge and the balance is applied to the unpaid amount financed.

  • Procurement Methods means any one of the procurement modes / methods as provided in the Punjab Procurement Rules 2014 published by the Punjab Procurement Regulatory Authority (PPRA), Government of Punjab.

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Selective Routing is a service which automatically routes an E911 call to the PSAP that has jurisdictional responsibility for the service address of the telephone that dialed 911, irrespective of telephone company exchange or Wire Center boundaries.

  • Prior Year means the year commencing 1 April immediately prior to the relevant Charging Year;

  • LOCKHEED XXXXXX means LOCKHEED XXXXXX CORPORATION, acting through its companies or business units as identified on the face of this Contract. If a subsidiary or affiliate of LOCKHEED XXXXXX CORPORATION is identified on the face of this Contract, then "LOCKHEED XXXXXX" means that subsidiary or affiliate.

  • Selective Router means the equipment necessary for Selective Routing. "Selective Routing" is the automatic routing of 911/E911 calls to the PSAP that has jurisdictional responsibility for the service address of the caller, irrespective of telephone company exchange or Wire Center boundaries. Selective Routing may also be used for other services.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Default Settlement Method means Combination Settlement with a Specified Dollar Amount of $1,000 per $1,000 principal amount of Notes; provided, however, that the Company may, from time to time, change the Default Settlement Method by sending notice of the new Default Settlement Method to the Holders, the Trustee and the Conversion Agent.

  • Random selection basis means a mechanism for selection of employees that: