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first-in, first-out

[ furst-in, furst-out ]
/ ˈfɜrstˈɪn, ˈfɜrstˈaʊt /
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noun
an inventory plan that assumes that items purchased first will be sold first and that by valuing inventory items at the price of the most recent purchases, inventory values will be comparable to any rise in prices. Abbreviation: FIFOCompare last-in, first-out.
Computers. FIFO (def. 2).
QUIZ
QUIZ YOURSELF ON "IS" VS. "ARE"
"Is" it time for a new quiz? "Are" you ready? Then prove your excellent skills on using "is" vs. "are."
Question 1 of 7
IS and ARE are both forms of which verb?
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2022

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