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 ?
LiLo, famous for her drug binges and wild partying lifestyle, has been facing strong criticisms for her documentary.
Lilo gamely gives it a try, scraping the length of wood across her grater.
Thus, no permanent disallowance of items on a net basis from the LILO is implied.
While calling a cartoon alien in a wig "drag" might be reaching, it's not a stretch to note that the central theme of Lilo & Stitch is the formation of a nontraditional family.
She said: 'The tour operators were wonderful, they have got lilos and they have been feeding everybody.
Washington, August 16 ( ANI ): LiLo has reportedly launched a new site 'LindsayLohan.
LiLo, who had just accepted a 90-day rehab deal in order not to spend an hour in jail, was allegedly invited to the Twilight lovers' home in Los Feliz, L.
Kapur mocks LiLo on his blog with the headline, " Lindsay Lohan's poverty tourism -- a therapy?
I got Lilo from a cat orphanage about five years ago.
BACK with old friends, new experiments and more Hawaiian spirit, Lilo and Stitch return in an all-new adventure, Leroy & Stitch.
Voices: Stitch Chris Sanders Lilo Dakota Fanning Nani Tia Carrere Jumba David Ogden Stiers Pleakley Kevin McDonald Kumu Kunewa Mook David Jason Scott Lee
Or maybe Dakota Fanning currently the voice of Lilo in ``Lilo and Stitch 2,'' who inside sources say may be the voice of Little Marie, the white kitten in the upcoming ``Aristocats II'' (2007).