American Heritage® Dictionary of the English Language, Fourth Edition
- n. See first-in, first-out.
- accounting, operations, computing First In First Out
- Fly-in fly-out.
GNU Webster's 1913
- adj. (accounting) an accounting method in which goods in inventory are valued at the price of the most recent acquisition of each type of goods, and those used up from inventory are valued at the cost of those first acquired.
- n. inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold
“Accountants would probably not be uncomfortable with our giving GE’s experience with planning the label FIFO first in—first out.”
“I have come across this thing called FIFO named pipe.”
“But a turn in FDI requires the U.S. to be "FIFO," or first-in first-out, of the credit crunch and to stay strong for a year, writes John Normand,”
“Write date by permanent marker so you know when you froze them and use them in the "FIFO" manner.”
“Inventories, consisting of products available for sale, are primarily accounted for using the first-in first-out "FIFO" method, and are valued at the lower of cost or market value.”
“Prior-year results are shown "as adjusted" due to a change in the Company's method of accounting for inventories from the first-in, first-out "FIFO" method to the average cost method, which was adopted January 1, 2010.”
“* As adjusted for the retroactive application to prior period financial statements resulting from a change in the Company's method of accounting for inventories from the first-in, first-out "FIFO" method to the average cost method that was adopted January 1”
“The system will also allow for multiple allocation strategies such as FIFO, FMFO, and FEFO and keeps track of fixed weight, variable weight, manufacture date, expiration date, lot and serial numbers.”
“(I applied on June 2 at the correct link) I have to assume they are working in some kind of FIFO order.”
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