Next in, first out (NIFO)

Next in, first out (NIFO),

Definition of Next in, first out (NIFO):

  1. Inventory valuation method that lists the cost of an item as its replacement value as opposed to its purchased cost. This typically lowers the profit margin; however, during inflationary times, using this method allows a company to price goods ahead of rising producer prices. This method is not considered a generally accepted accounting principle (GAAP).

Meaning of Next in, first out (NIFO) & Next in, first out (NIFO) Definition

Next-In, First-Out (NIFO),

What is The Definition of Next-In, First-Out (NIFO)?

Will Canton specializes in investment and business legislation and regulation. Prior to that, he held senior writing positions at Investopedia and Kapitall Wire, and holds an MA in Economics from the New School of Social Research at New York University and a PhD in Philosophy in English Literature.

  • Next in, First Out (NIFO) is an assessment where the price of an item is based on its replacement cost, not its cost.
  • To reflect the right terms and conditions, companies may use NIFO internally when inflation is a factor and the replacement cost exceeds the actual price of the item.
  • NIFO does not conform to generally accepted accounting principles.

Literal Meanings of Next-In, First-Out (NIFO)

Next:

Meanings of Next:
  1. (Of a beat) that comes immediately after writing or speaking.

  2. Comes immediately after order, position, or place.

  3. On the first occasion or immediately after it on the next occasion.

  4. Variety

Sentences of Next
  1. Who is the second eldest after Martin.

  2. I walk to him.

  3. Sales fell another ten percent each year

Synonyms of Next

thereupon, succeeding, contiguous, after this/that, at a subsequent time, then, next-door, after that time, proximate, abutting, attached, after, at a later time, following, thereafter, adjoining, later, neighbouring, upcoming, to come, adjacent, following that/this, bordering, connecting, closest, subsequently, nearest

In:

Meanings of In:
  1. Expressing a situation that is closed, surrounded or looks like something else.

  2. Indicates someone's occupation or occupation.

  3. Declares a value as part of (complete).

  4. It shows a closed situation or surrounded by something.

  5. (Ball in tennis and similar sports) lands in a specific playing area.

  6. The status of influence with someone powerful or famous.

  7. (Added to adjective) No.

  8. It refers to a gathering of people with a common goal, usually a form of protest.

  9. Indiana (use of official mail).

  10. Chemical element with atom number 49, a silvery white soft metal that naturally combines with zinc and some other metals.

Sentences of In
  1. Says in French

  2. Pastel and light colors have been added this year.

  3. Get in touch with promising new artists.

Synonyms of In

in vogue, following, indoors, trendsetting, popular, voguish, into the room/house/building, during, surrounded by, every, up to the minute, with it, all the go, home, in under, cool, in less than, rising, enclosed by, after, to, (■■■■) up to date, per, in the middle of, within the bounds/confines of

First:

Meanings of First:
  1. Mainly because of their position, position or importance.

  2. With a particular party or person in a leadership position.

Sentences of First
  1. Respecting this right is the first duty of a doctor.

  2. The car was the first to dive into the river.

Synonyms of First

main, fundamental, winning, focal, principal, beginning, central, highest, chief, premier, number-one, cardinal, elemental, top, uppermost, best, opening, original, prime, basic, pivotal

Out:

Meanings of Out:
  1. Appear to move or move away from a particular place, especially a closed or hidden place.

  2. Somewhere far away or a little far away.

  3. Famous or well-known.

  4. In the end or in the end?

  5. (Of light or fire) so that it may go out or stop burning.

  6. (Via jury) who quietly weighed their decision.

  7. Published or published

  8. No longer shining.

  9. Impossible or not taken into account.

  10. After the defensive team's sleeve or punch is complete, it is no longer a punch or punch.

  11. A way out of a problem or dilemma.

  12. The process of pushing the player backwards.

  13. Reveal a person's sexual or gender identity.

Sentences of Out
  1. An old country house somewhere in the middle

  2. The romance is gone

  3. The lights go out at 10 o'clock.

  4. Walking out the door

  5. The school is ready for summer.

  6. Let's go for a walk in the ocean.

  7. Slightly ahead of you.

  8. The UK is for 159.

  9. I'm desperately looking for a way out.

Synonyms of Out

wrong, mistaken, blooming, in bloom, wide of the mark, open, proscribed, incorrect, exposed, not on, inaccurate, in error, common knowledge, defunct, unacceptable, forbidden, ■■■■, blossoming, away from one's desk, doused, extinguished, flowering, not advisable, not here, divulged, elsewhere