FIFO (First-In-First-Out)

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First-In, First-Out (FIFO) is an inventory management and product flow method in which the oldest stock or items are used or sold before newer ones, ensuring that items are rotated to minimize obsolescence and spoilage.

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First in, first out (FIFO)

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Last in / First out

An inventory and storage principle where the most recently added or loaded items are the first to be retrieved or unloaded.

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LIFO (Last in, First out)

LIFO is an inventory and accounting method in which the most recently acquired items are the first to be issued or sold.

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LIFO (Last In, First Out)

An inventory valuation and cost flow assumption whereby the most recently received goods are assumed to be sold or issued first, affecting cost of goo...

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Lowest In – First Out

LOFO (Lowest In – First Out) is an inventory valuation and control method whereby items with the lowest acquisition costs are the first to be issued o...

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HIFO (Highest In – First Out) is an inventory valuation method in which the items with the highest acquisition cost are assumed to be sold or used fir...

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