What is FIFO? First In, First Out Method Explained
Unleashed
JANUARY 22, 2024
FIFO assumes the most recently purchased goods are the last to be resold and the least recently purchased goods are the first to be sold. For example, let’s say you purchased 50 items at $100 per unit and then the price went up to $110 for the next 50 units. Individual purchases are calculated based on their purchase price.
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