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First in first out
Noun
Definitions
1.
Noun
A method of inventory accounting that values items withdrawn from inventory at the cost of the oldest item assumed to remain in inventory.
2.
Noun
A policy of assigning priority to tasks and assignments that have arrived for service first.
3.
Noun
A type of queue data structure in which the oldest added items are retrieved first.
Synonyms
perpetual inventory
periodic inventory
accrual basis
current asset
inventory management
cash basis
stocktaking
inventory
accounting equation
inertia selling
restocking
pay-as-you-go
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