LIFO definition

LIFO means the pretax charge against income determined by using the last-in-first-out method of valuing inventory.

LIFO means the principle of last-in first-out, wherein securities are deemed to be sold in the opposite order than they were purchased (i.e. the last securities purchased are deemed to be the first sold);

LIFO means the method the Plaintiffs have selected and will apply to the holdings of Securities Claimants who made multiple purchases or sales such that sales of securities will be matched, in chronological order, first against securities last purchased.

Examples of LIFO in a sentence

• Except as provided in paragraph (c)(4)(iii) of this section, the lookthrough LIFO recapture amount shall be determined as of the end of the recapture date for transactions de- scribed in paragraph (b)(1) of this sec- tion, and as of the moment before the transfer occurs for transactions de- scribed in paragraph (b)(2) of this sec- tion.

• A partnership that applies the alternative method of this paragraph (c)(4)(iii) to calculate the lookthrough LIFO recapture amount must take into account any adjustments to the partnership’s basis in its LIFO inventory that result from transactions occurring after the start of the partnership’s taxable year and before the end of the recapture date.

• For example, the lookthrough LIFO re- capture amount must be adjusted to take into account any adjustments to the basis of LIFO inventory during that period under sections 734(b), 737(c), or 751(b).

• A partnership interest is a lookthrough partnership interest if the partnership owns (directly or indirectly through one or more partnerships) assets ac- counted for under the last-in, first-out (LIFO) method (LIFO inventory).

• For purposes of this section, a corporation’s lookthrough LIFO recapture amount is the amount of income that would be al- located to the corporation, taking into account section 704(c) and § 1.704–3, if the partnership sold all of its LIFO in- ventory for the inventory’s FIFO value.

More Definitions of LIFO

LIFO means “Last-In-First-Out”, which is the method the Plaintiff has selected to apply to the holdings of Authorized Claimants who made multiple purchases or sales, such that sales of Securities will be matched, in chronological order, first against Securities last purchased.

LIFO. (last-in-first-out) is the method of inventory management whereby the origin of the number of units of the materials or consumables last received into inventory is considered as the origin, in equal number of units, of the materials or consumables first removed from inventory; or

LIFO means the last-in-first-out method of determining value of Inventory in accordance with GAAP.

LIFO means the last in-first out method of accounting for Inventory.

LIFO means “Last-In-First-Out”, which is the method the Plaintiff has selected to apply to the holdings of Authorized Claimants who made multiple purchases or sales, such that sales of Shares will be matched, in chronological order, first against Shares last purchased;

LIFO has the meaning assigned to such term in Section 12.7.

LIFO has the meaning set forth in SECTION 3.23.