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fifo - 7 dictionary results

FIFO

[fahy-foh]
–noun
1. first-in, first-out.
2. Computers. a storage and retrieval technique, used mainly for data, in which the first item stored is also the first item retrieved.
FIFO   (fī'fō)   
n.  See first-in, first-out.
first-in, first-out   (fûrst'ĭn' fûrst'out')
n.  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.

Main Entry: FIFO
Pronunciation: 'fI-"fO
Function: abbreviation
first in, first out
FIFO
first in, first out
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