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 Full-Time Student:
- Dictionary full-time student if the dependent is enrolled in a school for the number of hours or courses considered by the school to be full-time during some part of at least 5 calendar months during the year first in, first out (fifo) definition.
- 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) explain.
- Definition Foreign Tax Credit Or Deduction:
- Dictionary deduction available to a U. S. citizen or resident alien, and in limited circumstances to a U. S. nonresident alien, who incurs or pays income taxes to a country other than the United States first in, first out (fifo) what is.
- Definition Fiduciary:
- Dictionary One who acts for an estate or trust to manage the property of the estate or trust first in, first out (fifo) meaning.
How works First In, First Out (FIFO meaning in Tax definitions F .
