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
Sorry, no etymologies found.
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Examples
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Accountants would probably not be uncomfortable with our giving GE’s experience with planning the label FIFO first in—first out.
The Rise and Fall of Strategic Planning HENRY MINTZBERG 1994
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Accountants would probably not be uncomfortable with our giving GE’s experience with planning the label FIFO first in—first out.
The Rise and Fall of Strategic Planning HENRY MINTZBERG 1994
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I have come across this thing called FIFO named pipe.
Linux Gazette 2010
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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,
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Write date by permanent marker so you know when you froze them and use them in the "FIFO" manner.
Eat your sprouts & Freeze them too! Meera 2007
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Write date by permanent marker so you know when you froze them and use them in the "FIFO" manner.
Archive 2007-12-01 Meera 2007
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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.
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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.
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* 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
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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.
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