Home > Terms > English, UK (UE) > FIFO (first-in, first-out)
FIFO (first-in, first-out)
The assumption that the items of inventory that were purchased or produced first are sold first, and consequently the items remaining in inventory at the end of the period are those most recently purchased or produced.
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- Part of Speech: noun
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- Industry/Domain: Financial services
- Category: Accountancy
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