next-in first-out

next-in first-out
NIFO An inventory valuation method that allocates replacement or *current costs to *cost of sales. NIFO is unacceptable under most forms of *Generally Accepted Accounting Principles, though it may be a valuable costing technique in times of high inflation. Compare *first-in first-out (FIFO) and *last-in first-out (LIFO).

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