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LIFO and FIFO are methods of inventory valuation.
LIFO - Last in first out
FIFO- First in first out
LIFO : LAST IN FIRST OUT
FIFO: FIRST IN FIRST OUT
FIFO stands for "First in, first out"
LIFO stands for "Last in, first out"
LIFO = Last In, First Out
FIFO = First In, First Out
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