FIFO

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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.

FIFO

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

FIFO

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