Definitions

from the GNU version of the Collaborative International Dictionary of English.

  • adjective (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.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

  • initialism accounting, operations, computing First In First Out
  • initialism Fly-in fly-out.

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

  • noun inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold

Etymologies

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