FIFO cost

Abbreviation for first-in-first-out cost

Accounting dictionary. 2014.

Look at other dictionaries:

  • FIFO cost — Abbreviation for first in first out cost …   Big dictionary of business and management

  • FIFO and LIFO accounting — methods are means of managing inventory and financial matters involving the money a company ties up within inventory of produced goods, raw materials, parts, components, or feed stocks.LIFO accountingIn LIFO accounting, a historical method of… …   Wikipedia

  • FIFO — ☆ FIFO [fī′fō΄ ] n. [f(irst) i(n,) f(irst) o(ut)] a method of valuing inventories in which items sold or used are priced at the cost of earliest acquisitions and those remaining are valued at the cost of most recent acquisitions: cf. LIFO …   English World dictionary

  • FIFO — (f[imac] f[=o]), a. [acronym, First In First Out.] 1. (accounting) an accounting method in which goods in inventory are valued at the price of the most recent acquisition of each type of goods, and those used up from inventory are valued at the… …   The Collaborative International Dictionary of English

  • Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • FIFO — See first in, first out. American Banker Glossary ( first in, first out) An accounting method for valuing the cost of goods sold that uses the cost of the oldest item in inventory first. Bloomberg Financial Dictionary * * * FIFO FIFO [ˈfaɪfəʊ ǁ… …   Financial and business terms

  • Fifo — First in, first out Pour les articles homonymes, voir FIFO. Algorithmes d ordonnancement EDF • Rate monotonic • Round robin …   Wikipédia en Français

  • Cost basis — Part of a series on Taxation Taxation in the United States …   Wikipedia

  • Cost accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • FIFO — First in, first out. A method of accounting for inventory which assumes that goods are sold in the order in which they are purchased, i.e., the oldest items sold first. The other common inventory costing methods include LIFO (last in, first out) …   Black's law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.