What does FIFO mean in Accounting?

This page is about the meanings of the acronym/abbreviation/shorthand FIFO in the Business field in general and in the Accounting terminology in particular.

First-in first-out

Business » Accounting

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Submitted by Dr.Rupayan Talukder on April 15, 2018

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Definition

What does FIFO mean?

first in first out, FIFO(noun)
inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold

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"FIFO." Abbreviations.com. STANDS4 LLC, 2024. Web. 19 Apr. 2024. <https://www.abbreviations.com/term/1989183>.

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