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First in first out

Noun

Definitions

1.NounA method of inventory accounting that values items withdrawn from inventory at the cost of the oldest item assumed to remain in inventory.
2.NounA policy of assigning priority to tasks and assignments that have arrived for service first.
3.NounA type of queue data structure in which the oldest added items are retrieved first.

Synonyms

perpetual inventoryperiodic inventoryaccrual basiscurrent assetinventory managementcash basisstocktakinginventoryaccounting equationinertia sellingrestockingpay-as-you-go
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