Word Study
fifo
WORDNET DICTIONARY
Noun fifo has 1 sense
- fifo(n = noun.act) first in first out - inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold; Array is a kind of inventory accounting
CIDE DICTIONARY
fifo, a. [acronym, First In First Out.].
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. [PJC]
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