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.

More On This Topic

Link to This Definition
Did you find this definition of FIRST-IN, LAST-OUT (FILO) helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary