fifo Synonyms
No Synonyms and anytonyms found
fifo Meaning
fifo (n)
inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold
fifo Sentence Examples
- The company employs a FIFO (first-in, first-out) inventory valuation method, ensuring that the oldest inventory items are sold first.
- In a FIFO (first-in, first-out) inventory system, the cost of goods sold is determined by the cost of the first items purchased.
- Implementing FIFO (first-in, first-out) accounting allows for a more accurate reflection of current asset values.
- The FIFO (first-in, first-out) method is often preferred when dealing with perishable goods, as it ensures that older items are sold before they expire.
- In FIFO (first-in, first-out) accounting, the ending inventory is valued at the cost of the most recent purchases.
- FIFO (first-in, first-out) inventory management helps businesses maintain a steady flow of products.
- Restaurants frequently use FIFO (first-in, first-out) to ensure that the freshest ingredients are used.
- FIFO (first-in, first-out) inventory valuation is advantageous when prices are consistently rising.
- FIFO (first-in, first-out) accounting is a widely accepted method for inventory valuation.
- The FIFO (first-in, first-out) method can help businesses save money on taxes.
FAQs About the word fifo
inventory accounting in which the oldest items (those first acquired) are assumed to be the first sold
No synonyms found.
No antonyms found.
The company employs a FIFO (first-in, first-out) inventory valuation method, ensuring that the oldest inventory items are sold first.
In a FIFO (first-in, first-out) inventory system, the cost of goods sold is determined by the cost of the first items purchased.
Implementing FIFO (first-in, first-out) accounting allows for a more accurate reflection of current asset values.
The FIFO (first-in, first-out) method is often preferred when dealing with perishable goods, as it ensures that older items are sold before they expire.
