FIFO

FIFO (first-in, first-out method) is valuing of inventory assuming that the company sells the first goods received in the store.

Definitions

FIFO (first-in, first-out method). Valuing of inventory assuming that the company sells the first goods received in the store.

Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.