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FIFO

FIFO

An abbreviation for first-in, first-out, a method employed in accounting for the identification and valuation of the inventory of a business.

FIFO assumes that the first goods purchased are the first sold. As a consequence, the items that remain in the inventory at the end of the year are assumed to be those purchased last.

cross-references

LIFO.

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FIFO

FIFO (or fifo) Acronym for first in first out. FIFO list is another name for queue.

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"FIFO." A Dictionary of Computing. . Encyclopedia.com. 21 Feb. 2018 <http://www.encyclopedia.com>.

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FIFO

FIFO (or fifo) (ˈfiːfəʊ) Computing, Accounting first in first out

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"FIFO." The Oxford Dictionary of Abbreviations. . Encyclopedia.com. 21 Feb. 2018 <http://www.encyclopedia.com>.

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