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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.



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Morhet also bylined an article that was also featured in a recent issue of PFQ Magazine (total circulation: 16,500).
Because of this, PFQ enables true Quality of Service (QoS) on a per-user or per-class basis so some users can pay more for better access.
PFQ can manage hundreds of thousands of flows through a network switch by setting up separate queues for each flow, then scheduling the queues based on a set of priorities.