FIFO

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FIFO

First In, First Out

In accounting, a technique for valuing inventory by treating inventory acquired first as if it were sold first. The sale of inventory is recorded against the purchase price of the oldest inventory, even if the physical goods are not the same. In times of high inflation, the first-in, first out technique increases a business' inflation risk. For this reason, most American firms have used the last-in, first-out technique in their accounting since the 1970s.

FIFO

FIFO

see STOCK VALUATION.

First In, First Out (FIFO)

An accounting method for determining the cost of inventories. Under this method, the first items purchased are treated as being the first items sold. Ending inventory is valued using the cost of later purchases, or the lower of cost or market.
References in periodicals archive ?
HBA has already set a new industry standard for FIFO Queuing devices and is committed to delivering the highest value products to the market," said Der-Kant Cheng, president of High Bandwidth Access, Inc.
HBA) is a fabless communication semiconductor company providing industry's most advanced FIFO queuing and traffic management devices used for high capacity broadband networks.
The fabless infrastructure enables HBA to focus on aggressive research and development of the industry's fastest queuing devices and continues to strengthen its leadership role in the FIFO queuing market.
High Bandwidth Access (HBA) today announced it is making its corporate debut this week with the launch of the industry's most advanced line of FIFO queuing devices designed to meet the demand for more advanced traffic management functions and even greater performance levels of next-generation broadband applications.
As in the last section, the simulations are based on a RTGS system with a FIFO queuing function where a gridlock mechanism attempts to achieve netting effects between participants.