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First In First Out

FIFO. A method of valuing the Cost Of Goods Sold that uses the cost of the oldest items in inventory first.

Related Terms: 1 Cost Of Goods Sold
Other Related Pages: Category: Accounting Starting With: F
Additional Related Terms: Accelerated Cost Recovery System, Acquisition cost, Adjusted balance method, Average daily balance method, Accrual of discount, Amortization of premium, At par, All or any part, At best, At call