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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Words linked to "FIFO" : inventory accounting, first in first out