First In First Out. A method of valuing the cost of goods sold that uses the cost of the oldest items in inventory first.

Use FIFO in a sentence

I wanted the status of fifo at the place,because I did not want to linger and be around the crowd for too long.

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You should always make sure to follow FIFO any time that you are dealing with any fresh goods that may be perishable.

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We were debating whether LIFO or FIFO was optimal and thought counting the first in and first out was most effective.

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LIFO reserve earnings management