Meaning of the word FIFO in English
What does FIFO mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
FIFO
US /ˈfaɪ.foʊ/
UK /ˈfaɪ.foʊ/
Abbreviation
1.
First-In, First-Out: a method of accounting in which assets purchased or acquired first are sold or used first. This method is often used for inventory valuation.
Example:
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The company uses the FIFO method for its inventory management.
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Under FIFO, the oldest inventory is expensed first.
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