FIFO

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FIFO

First In, First Out

In accounting, a technique for valuing inventory by treating inventory acquired first as if it were sold first. The sale of inventory is recorded against the purchase price of the oldest inventory, even if the physical goods are not the same. In times of high inflation, the first-in, first out technique increases a business' inflation risk. For this reason, most American firms have used the last-in, first-out technique in their accounting since the 1970s.

FIFO

See first-in, first-out.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

FIFO

see STOCK VALUATION.

First In, First Out (FIFO)

An accounting method for determining the cost of inventories. Under this method, the first items purchased are treated as being the first items sold. Ending inventory is valued using the cost of later purchases, or the lower of cost or market.

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Table 2 provides an overview of the support services targeted to the resource industry (that is, FIFO and DIDO workers).

Non-resident workers: a comparison of family support services for resource, health, and defence communities

There is anecdotal evidence of some FIFO workers basing themselves in Bali (Rainnie et al., 2014), however, little is known about this or the trend of FIFO workers selecting Bali as their preferred holiday destination during their 'set breaks'.

Fly in to work; fly out to Bali: an exploration of Australian fly-in-fly-out (FIFO) workers leisure travel

However, it appears the majority of posters were female, and either living with or married to a man employed in a FIFO working arrangement.

Gender, emotions and fly-in fly-out work

Upon reception of this broadcast message, each LP initiates the LBTS computation based on the FIFO queues and the UML list that each LP maintains.

An efficient optimistic time management algorithm for discrete-event simulation system

BC switches from dollar-value LIFO to FIFO as of Jan.

The death of LIFO? changing inventory method requires managing the accounting-tax differences

Using the same example of 180 units sold, the FIFO example results in a cost-of-goods-sold calculation of 100 units at $1.00 per unit and 80 units at $1.20 per unit for a total cost of goods sold of $1,960.

Will RFID change inventory assumptions? Perhaps in a few years when prices are lower and the technology is more common

FIFO resolves that dilemma by assuming that the first asset put into inventory is the first asset used.

RM Role in Accounting

We show that this is indeed the case for the combination of crash failures and links that can lose messages (unreliable FIFO links).

The Fault Span of Crash Failures

Returning to that former assignment to discuss the methods of inventory costing: You would probably quickly identify FIFO, LIFO, weighted average, and specific identification.

Writing for Success Some Tips for the Accountant

If a FIFO (first-in-first-out) stream of packets is striped across multiple channels, packets may be received out of order at the receiver because of different delays (called skews) in the channels.

An Architecture for Packet-Striping Protocols

You could use the first-in, first-out (FIFO) method, which assumes you sold the first 500 shares you bought.

How to secure your investment success: don't let the tax man dip too deeply into your investment earnings for last year or this one. Here's how to protect them

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