FIFO • FREE TRANSLATOR.ORG • Definition of FIFO

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adjective

FIFO 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.

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Etymology of 'FIFO'

Collaborative International Dictionary of English 0.48

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"Fifo" Quotes from Famous Books

... by analogy with FIFO (First In, First Out)] 'First In, Still Here'. A joking way of pointing out that processing of a particular sequence of events or requests has stopped dead. Also 'FISH mode' and 'FISHnet'; the latter may be applied to any network that is running ...

— The Jargon File, Version 4.0.0