FIFO stands for first-in, first-out, meaning that the oldest inventory items are recorded as sold first. LIFO stands for last-in, first-out, meaning that the most recently purchased items are recorded as sold first.Since the 1970s, U.S. companies have tended to use LIFO, which reduces their income taxes in times of inflation http://en.wikipedia.org/wiki/FIFO_and_LI...Source(s): Piggiepants Â· 6 years ago.ating Newest Oldest. Best Answer: FIFO and LIFO accounting Methods are means of managing inventory and financial matters involving the money a company ties up within inventory of produced goods, raw materials, parts, components, or feed stocks.
Elie Wiesel: Holocaust survivor and winner of the Nobel Peace Prize dies aged 87. The 87-year-old academic and writer died in Connecticut in the United States. Elie Wiesel, a Holocaust survivor and winner of the Nobel Peace Prize who wrote about his experiences as a prisoner in three concentration camps, has died at the age of 87. The American Romanian-born Jewish writer, academic and political activist, died on Saturday in Connecticut.
That fall, Felsch agreed to join a group of White Sox players that planned to intentionally lose the 1919 World Series in exchange for monetary payments from a network of gamblers. He was reluctant to go along with the plan at first but then eventually did because of the money.elsch died of a liver ailment in Milwaukee in 1964, just five days before his 73rd birthday. He was survived by his wife Marie and three children. He is buried at Wisconsin Memorial Park in Brookfield, Wisconsin. In the 1988 film Eight Men Out, Felsch was portrayed by Charlie Sheen.