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 ?
As a direct result of the close working relationship with MMC on the development of this technology, Cisco plans to build PFQ into future products in the LightStream family, according to Alles.
PFQ can keep track of each multicast data flow, insuring high-quality delivery to those who want premium service.
This means that, with PFQ, frame switching, found in Ethernet networks, can work at the same speed and deliver the same advanced traffic management capabilities as cell switching, something no one believed possible just a few years ago.