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First-In, First-Out Inventory (FIFO Inventory) – Accounting In Focus

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First-In, First-Out Inventory (FIFO Inventory) – Accounting In Focus

The First-In, First-Out method (the FIFO method), is determining the cost of a sale, the company uses the cost of the oldest (first-in) units in inventory.

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What is the FIFO Method and How Can it Be Used?

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