first in, first out
adjective
: being or relating to a method of valuing inventories by which items in the lot first received are assumed to be issued or sold first and requisitions are priced at the cost per item of the oldest lot on hand compare last in, first out
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“First in, first out.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/first%20in%2C%20first%20out. Accessed 29 Nov. 2024.
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