a type of inflatable air mattress
"We set up our lilo on the beach to relax under the warm afternoon sun."
An inflatable air mattress.
"After renting a room at the beach resort, we brought our lilo so we could sleep on the sand next to the ocean."
last in last out (see FIFO)
"In our inventory system, we always sell the oldest stock first and keep any new shipments as lilo to ensure freshness."