What FIRST IN, FIRST OUT (FIFO) means: An accounting method for determining the cost of inventories. Under this method, the first items purchased are treated as being the first items sold. Ending inventory is valued using the cost of later purchases, or the lower of cost or market.
- Definition Fair Market Value (FMV):
- Dictionary The amount at which property would change hands between a willing buyer and a willing seller, neither being under compulsion to buy or sell and both having reasonable knowledge of the relevant facts first in, first out (fifo) definition.
- Definition Foreign Corporation:
- Dictionary A corporation not organized under the laws of one of the states or territories of the United States first in, first out (fifo) explain.
- Definition Fully Taxable Pensions:
- Dictionary Pensions for which taxpayers contributed none of the cost or have recovered their entire cost in previous years first in, first out (fifo) what is.
- Definition Fiscal Year:
- Dictionary ending on the last day of any month except December, or a 52-53 week tax year, which is a year that ends on the same day of the week (for example, the last Thursday of the month or on the Thursday first in, first out (fifo) meaning.
How works First In, First Out (FIFO meaning in Tax definitions F .
