Next-In, First-Out (NIFO)

Next-In, First-Out (NIFO),

Definition of Next-In, First-Out (NIFO):

  • Meaning of Next-In, First-Out (NIFO): Nexton, First Out, or NIFO, is a method of evaluation in which the price of a particular item depends on the cost of replacing that item, not the actual price. This form of assessment is not part of the generally accepted accounting principles (GAAP), as it would violate the cost principle. Cost principle is an accounting concept that indicates that goods and services should be recorded at their actual value and not at their current value.

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


Meanings of Next:
  1. (Moment or season) which comes immediately after the moment of writing or speaking.

  2. Immediately after being present in order, position or place.

  3. On the first occasion or immediately after the gift

  4. The next person or thing.

  5. other than that.

Sentences of Next
  1. Okay, let's go next year

  2. The woman in the next room

  3. She wondered what would happen next

  4. The coming week

Synonyms of Next

later, at a subsequent time, after, upcoming, subsequently, after that, afterwards, after that time, following that, to come, following, succeeding, at a later time, then, after this, following this


Meanings of In:
  1. Explain the situation of being surrounded by something or appearing surrounded by something else.

  2. Indicate the period during which an incident occurred or the situation continued.

  3. Include how long it will take in future events.

  4. (Usually followed by a noun without a definite article) which expresses a condition or condition.

  5. Participation or expression participation.

  6. Please show someone's work or work.

  7. Language or media description used.

  8. As an integral part (an activity)

  9. Express movement as a result of someone or something getting stuck or surrounded.

  10. Expresses being surrounded by a situation or something.

Sentences of In
  1. Wear your best Sunday dress

  2. They met in 1885

  3. See you in fifteen minutes

  4. Fall in love

  5. I read in a book

  6. He works in publications

  7. Says in Polish

  8. When planning public spending, it's best to be cautious

  9. front of

  10. We were closed

  11. The train arrived too late

  12. The tide was high and when it reached the port wall, the waves reached a height of thirty meters.

Synonyms of In

into the room, into the interior, present, in style, up to the minute, bang up to date, in fashion, in vogue, at home, stylish, rising, in the course of, voguish, within the confines of, in the middle of, over, modern, subsequent to, chic, popular


Meanings of First:
  1. Get there on time or sooner than anyone else.

  2. Especially in place, location or importance.

  3. With a particular party or individual who holds any position.

Sentences of First
  1. Your first wife

  2. The first duty of a doctor is to respect this right

  3. First he drowned his nose in the river

Synonyms of First

initial, introductory, opening, greatest, highest, utmost, leading, main, major, uppermost, top, chief, earliest, original, paramount, foremost, prime, topmost, principal


Meanings of Out:
  1. Moving or looking away from certain places, especially places that are covered or hidden.

  2. The hotel is somewhere or a short distance away.

  3. (Light or fire) so that it comes out or stops burning.

  4. (Through the jury) Keep your trial a secret.

  5. Set a specific distance from the finish line or finish line.

  6. (Party, politicians, etc.) are not currently in office.

  7. Outside

  8. Both at home and at work.

  9. Disclosed or published.

  10. (Flower) blooms openly.

  11. He doesn't care anymore.

  12. This is not possible and should not be considered.

  13. In a coma

  14. Error after error.

  15. Outside the designated play area (from balls to tennis and similar sports).

  16. After completing the team course, it is no longer on the racket or base.

Sentences of Out
  1. The process took seven business days, and the jury was not present for about seven hours before Item 1 was convicted and Items 2 and 3 were dealt with.

  2. He should remain in office until his party rejects him or the electorate rejects him.

  3. When he calls, suppose you're out

  4. June, when the follicles come out, is the best time to visit Umbria.

  5. There is a fire

  6. The school is out in the summer

  7. The beach trip is over

  8. He's been missing since I put him on the couch. Hell is unconscious for a while.

Synonyms of Out

uncover, exposed, blossoming, blacked out, not at home, flowering, no longer alight, quenched, extinguished, senseless, wide of the mark, oust, in error, unveil, gone away, inaccurate, open, insensate, absent, revealed, stupefied, in bloom, incorrect, mistaken, unmask, show