In accounting term what is the acronym FIFO means?
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First In First Out
First In First Out
First In First Out - so if it were LILO does that mean Last in last out
This means First In First Out
First In, First Out. A product that comes in will most likely be the first product to ship out.
First in first out. This refers to accounting for inventory. The cost of first inventory item received is cost assigned to the first inventory item shipped or sold.
Total Answers: 7, Total Page Views: 415.» Answer from Marcelle Llewelyn Answer given 31 days 11 hours ago.First in, first out - an accounting term for rotation of stock, where your oldest stock is sold first
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