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FIFO

(fī′fō′)

☆

noun

a method of valuing inventories in which items sold or used are priced at the cost of earliest acquisitions and those remaining are valued at the cost of most recent acquisitions

Origin: f(irst) i(n,) f(irst) o(ut)

See FIFO in American Heritage Dictionary 4

noun

See first-in, first-out.

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