Definitions for last in first out
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Princeton's WordNet
last in first out, LIFO(noun)
inventory accounting in which the most recently acquired items are assumed to be the first sold
Wiktionary
last in first out(Adjective)
Of or pertaining to any situation where the last to arrive is the first to go.
Citation
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"last in first out." Definitions.net. STANDS4 LLC, 2013. Web. 22 May 2013. <http://www.definitions.net/definition/last in first out>.