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 ?
Lilo squeezes for several minutes, and then Cox packages a sample of this extract too.
The reported friendship between LiLo and K-Stew could do the 26-year-old Mean Girls star, who have made headlines more often for her legal battles and not for her acting resume, not to mention her complicated love life.
Kapur wonders about the intense focus on poverty by celebrities such as LiLo.
I would still keep Lilo, but I would love a hamster actually.
With Jumba already back in the lab, Pleakley teaching in college, Lilo at home in Hawaii and Stitch at the helm of a Big Red Battleship, the friends must join together once more to defeat the army of Leroys.
Wispy plot finds Lilo hoping to enter a hula competition that, years earlier, bestowed first-place honors on her late, lovely mother.
Lilo prepares to enter the annual Hawaiian hula competition as a tribute to her deceased mother.
In Lilo & Stitch 2: Hamsterviel Havoc, kids can play as both Stitch and Lilo on a mission to defeat the evil Hamsterviel with the help of 7 Experiments.
Lilo is an orphan, being raised - badly - by her big sister Nani.
Set on the sun-drenched island of Hawaii, the unexpected arrival of an alien (Stitch) is just what the orphan Lilo needs.
While Lilo tries to fence in Stitch's destructive tendencies and introduce him to the wonders of Elvis Presley, her sister Nani struggles to fend off the burly bouncer-like social worker and the well armed aliens try to recapture their prisoner without drawing attention to themselves.
Viewed as a whole, the objective facts of the LILO transaction indicate that it lacks the potential for any significant economic consequences other than the creation of tax benefits.