Accounting dictionary. 2014.
next-in-first-out cost — NIFO cost A method of valuing units of raw material or finished goods issued from stock by using the next unit price at which a consignment will be received for pricing the issues. It is effectively using replacement cost as a stock valuation… … Big dictionary of business and management
first-in-first-out cost — FIFO cost A method of valuing units of raw material or finished goods issued from stock based on using the earliest unit value for pricing the issues until all the stock received at that price has been used up. The next latest price is then used… … Accounting dictionary
first-in-first-out cost — FIFO cost A method of valuing units of raw material or finished goods issued from stock based on using the earliest unit value for pricing the issues until all the stock received at that price has been used up. The next latest price is then used… … Big dictionary of business and management
last-in-first-out cost — LIFO cost A method of valuing units of raw material or finished goods issued from stock by using the latest unit value for pricing the issues until all the quantity of stock received at that price is used up. The next earliest price is then used… … Accounting dictionary
last-in-first-out cost — LIFO cost A method of valuing units of raw material or finished goods issued from stock by using the latest unit value for pricing the issues until all the quantity of stock received at that price is used up. The next earliest price is then used… … Big dictionary of business and management
next-in, first-out — (NIFO) An inventory valuation method whereby the cost of goods sold is based on the replacement cost, rather than the actual cost of the goods. This method is not a generally accepted accounting principle; therefore it is not commonly used. See… … Black's law dictionary
next-in, first-out — (NIFO) An inventory valuation method whereby the cost of goods sold is based on the replacement cost, rather than the actual cost of the goods. This method is not a generally accepted accounting principle; therefore it is not commonly used. See… … Black's law dictionary
next-in first-out — NIFO An inventory valuation method that allocates replacement or *current costs to *cost of sales. NIFO is unacceptable under most forms of *Generally Accepted Accounting Principles, though it may be a valuable costing technique in times of high… … Auditor's dictionary
Next-In, First-Out - NIFO — A method of valuation where the cost of a particular item is based upon the cost to replace the item rather than on it’s original cost. This form of valuation is not one of the generally accepted accounting principles (GAAP) because it is… … Investment dictionary
first-in first-out — FIFO An inventory valuation method that assumes inventory is consumed or sold in the order in which it is purchased or manufactured. The FIFO methodology, which allocates older inventory costs to *cost of sales, is acceptable under most forms of… … Auditor's dictionary
