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.
Eliezer Elie Wiesel is a noted Holocaust survivor and an award winning novelist, journalist, and human rights activist. He is also a Nobel Prize laureate in World Peace. Wiesel (born September 30, 1928) was born in Sighet, a Rumanian shtetl, to an Orthodox Jewish family.fter four days, the train stopped at Auschwitz. Wiesel, then 15, followed the instructions of a fellow prisoner and told the waiting SS officer that he was eighteen, a farmer and in good health. He and his father were sent to be slave laborers. His mother and younger sister were taken to the gas chambers.