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fifo

 

Definitions from WordNet

Noun fifo has 1 sense
  1. first in first out, FIFO - inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold
    --1 is a kind of inventory accounting

Definitions from the Web

FIFO

Noun

Definition: FIFO stands for First-In, First-Out. It is a method used to manage the flow of items or data, where the first item received or the oldest data is the first to be processed or consumed.

Example sentence: The warehouse uses a FIFO system to ensure that the oldest stock is always shipped out first.

Adjective

Definition: Used to describe a system or process that follows the principle of First-In, First-Out.

Example sentence: The accounting software utilizes a FIFO calculation method to accurately determine the value of inventory.

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