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.

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References in periodicals archive ?
Table 2 provides an overview of the support services targeted to the resource industry (that is, FIFO and DIDO workers).
Family studies have included Kaczmarek and Sibbel's (2008) work exploring the psychological well-being of children as part of a study on children from FIFO, military and general community families that found no significant differences on all measures of well-being between FIFO and non FIFO children.
Most questions are addressed by the psychologist and cover topics for both the FIFO worker (for example, depression and mine site work) and the FIFO partner (being a FIFO mum), along with information for both partners about, for example, the breakdown of a FIFO relationship and fighting about sex.
Ho: There is no significant relationship between perishability of goods and FIFO as a choice of inventory method.
In effect, replacement value accounting overcomes the first flaw of FIFO by dissecting the difference between the selling price and the original cost into its two components--marketing income and holding gains.
That leads us to the conclusion that a company's choice of FIFO or LIFO has no effect on potential recovery from business income insurance--at least no effect that a risk manager can predict with an acceptable degree of accuracy.
Note that the figure does not separate the model for crash failures with unreliable FIFO links from the model for crash failures with unreliable non-FIFO links.
Components in normal scheduling rules: ten independent replications Maximum Average Average WIP number waiting number Rule inventory waiting time (hrs) waiting Throughput FIFO 30 40 93 30 120 35 35 110 30 125 39 40 108 33 123 32 43 105 36 128 37 47 118 37 126 35 40 115 33 125 35 37 105 34 126 34 40 110 33 122 36 45 109 35 126 35 40 110 30 125
This could make it easier, from a cash management and rates standpoint, to eventually make a FIFO retirement of the remaining balance since the original allocation has been gradually reduced.
We've developed a FIFO product with sufficient bandwidth and density to enable high bandwidth buffered links between highly specialized sub-systems in the video broadcasting, military and medical space," said Dinesh Maheshwari, Chief Technology Advisor at Cypress.
FIFO workers and their families will play an important part in this study and people are invited to express their interest and find out more by visiting http://www.
Furthermore, a significant number were focused on FIFO and attendant concerns.