The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

FIRST-IN, LAST-OUT (FILO) Definition & Legal Meaning

Definition & Citations:

Managing inventory based on the idea that the value is compared between the first and last bought items. The cost of the first good is the same as the cost of the last goods. It is the same as the last in first out accounting methods.


This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.