FIFO Definition
 fīfō 
    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.
 Webster's New World 
Synonyms: 
  
    abbreviation
  
 (accounting, operations, computing) First In First Out.
 Wiktionary 
Fly-in fly-out.
 Wiktionary 
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