What I mean by the data is not stored in the order you entered it is that Access stores the data in the most convenient spot it finds within the file structure at the time the data is added. What you see is not necessarily how it acts. Many times when you open a table, you see the data as it was entered and so you can come to the faulty conclusion that the data is ordered in the order that it was entered. But I assure you that is NOT the case. It is a common misconception and one that can come back to bite you big time if you don't know about it.
In fact, you need to have a field which would be able to tell you which order it was entered in. The most effective of these, especially in a multiuser environment, is a date/time stamp that is added at the time of update (in the before update event of the form). Using an autonumber or other numbering scheme MAY not give you the actual correct order because those are usually added as a person starts a record, but in a multiple user environment, they might not save it before someone else who started one afterwards. Also, an autonumber only guarantees a unique number. It is not guaranteed to give you an incremented number and again, it may not be in the order that the records were saved.
So, in order to use the LAST or FIRST functions you need to be aware of what they actually do. They return the last or first record in a recordset and if you want it to be accurate, you need to use it with an ORDERED recordset. That means you need to apply an order, in a QUERY, to the records so that the order is just right.
Let's say you have 3 records in a table (one field of MyNum) and those records were entered like
1
3
2
Now, using first on the table may produce a 1 but it may not because we have not provided an explicitly ordered recordset. If we sort in ascending order the FIRST function will then return a 1. But if we sort in DESCENDING order, the FIRST function will return a 3.
I hope that helps.