First In, First Out (FIFO) is an accounting method in which assets purchased or acquired first are disposed of first. FIFO assumes that the remaining inventory consists of items purchased last. An alternative to FIFO, LIFO is an accounting method in which assets purchased or acquired last are disposed of first.
FIFO?
What are the rules of FIFO?
What are the concepts of FIFO?
What is first in, first out FIFO principles?
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