The first-in, first-out inventory (FIFO) system works by assuming that items are pulled out of inventory in the same order that they get put in. Moving older stock first can increase your company's ...

Two common ways for companies to account for inventory are first-in/first-out, or FIFO, and last-in/last-out, or LIFO. In FIFO, the first units that arrive in the business are the first sold. In LIFO, ...

Learn about the methods of calculating and tracking inventory that are used in retail accounting.

FIFO stands for "first in, first out," and is used both commercially and domestically to manage inventory efficiently by ensuring items are used in the order they enter. The FIFO method helps save ...