first in first out

/fərst ɪn fərst aʊt/
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Definitions of first in first out
  1. noun
    inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold
    synonyms: FIFO
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    type of:
    inventory accounting
    accounting that controls and evaluates inventory
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Vocabulary lists containing first in first out

Century 21 Accounting, 9e, Chapters 15-20

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