first-in, first-out

Also found in: Legal, Financial, Encyclopedia, Wikipedia, Hutchinson

0.08 sec.

first-in, first-out (fûrst

fûrst

out

)

A method of inventory accounting in which the oldest remaining items are assumed to have been the first sold. In a period of rising prices, this method yields a higher ending inventory, a lower cost of goods sold, a higher gross profit (assuming constant price), and a higher taxable income. Also called FIFO.

How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content.

?Page tools

Printer friendly
Cite / link
Email

Feedback
Add definition

? Mentioned in

? References in periodicals archive

44 Average common shares and common stock equivalents outstanding 52,616 53,710 52,592 53,684 (a) Periods prior to April 1, 1999, have been restated to reflect the second quarter 1999 change in method of accounting for inventory to the first-in, first-out (FIFO) method from the last-in, first-out (LIFO) method previously used for the majority of domestic inventory.

Bemis Company Reports Second Quarter Results, Adopts FIFO Inventory ... by Business Wire

More results

Dictionary/thesaurus browser

? Full browser

first-come-first-serve
first-come-first-served
first-day cover
first-degree burn
first-foot
first-generation
first-hand
first-in, first-out
first-nighter
First-order
first-order correlation
first-place finish
first-rate
first-rater
first-string

first-foots
First-fruits
First-Fruits and Twentieths
First-Fruits and Twentieths
first-generation
First-generation Chevrolet Camaro
First-generation Chevy Camaro
First-generation computer
First-generation computer
First-generation language
First-generation programming language
First-generation programming language
First-generation rights
first-generation scanner
First-grade
First-growth forest

First-hand
First-hand
First-Hit First-Repair
First-in first-out
First-in first-out
First-in first-out
First-in first-out
First-in first-out
first-in, first-out
First-in-human trial
First-In-Man
First-in-man studies
First-in-man study
First-In/First-Out Queuing of Handover
first-lactation
First-level cache
First-level cache

First-line therapy
First-line therapy
First-line treatment
First-line treatment
First-movement form
First-movement form
First-movement form
First-mover advantage
First-mover advantage
first-name
first-night
first-night
first-night
first-nighter
first-nighters
first-opinion cases

Dictionary, Thesaurus, and Translations

Free Tools:	For surfers: Browser extension \| Word of the Day \| Help For webmasters: Free content \| Linking \| Lookup box \| Double-click lookup \| Partner with us

All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Terms of Use.