Last In, First Out (LIFO)

LIFO means using the most recently received units or cost layers first. A warehouse removal strategy and an accounting cost-flow assumption must be distinguished, even when both use the same abbreviation.

Odoo documents LIFO as a stock removal strategy that selects the newest eligible lot or serial stock. Its documented inventory costing methods are Standard Cost, Average Cost and FIFO; LIFO removal is not a standard LIFO valuation method.