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 KBE (/ËÉli wÉªËzÉl/ ; born September 30, 1928) is a Romanian-born Jewish writer, professor, political activist, and Nobel Laureate. He is the author of 57 books, including Night, a work based on his experiences as a prisoner in the Auschwitz, Buna, and Buchenwald concentration camps.Wiesel is also the Advisory Board chairman of the newspaper Algemeiner Journal.e is the author of 57 books, including Night, a work based on his experiences as a prisoner in the Auschwitz, Buna, and Buchenwald concentration camps. Wiesel is also the Advisory Board chairman of the newspaper Algemeiner Journal.