FIFO definition

  • noun:
    • See first-in, first-out.
    • inventory bookkeeping where oldest products (those very first acquired) are thought becoming the first offered
  • initialism:
    • first-in first-out
    • Fly-in fly-out.
  • adjective:
    • an accounting method which items in inventory are valued at the price of the most recent acquisition of each and every type of products, and the ones used up from stock tend to be respected at the cost of those very first acquired.

Related Sources

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