First-In, First-Out Inventory (FIFO Inventory) – Accounting In Focus
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First-In, First-Out Inventory (FIFO Inventory) – Accounting In Focus
Jul 29, 2014
accountinginfocus.com
FIFO stands for First-In First-Out. It is a stock rotation system used for food storage. #storage You put items with the soonest best before or use-by dates at the front and place items with the furthest dates at the back. By using a FIFO food storage system, you ensure that food with the nearest best before or use-by dates are used or sold first. #FIFO ( First in first out) ⏲️👨‍🍳🧑‍🍳maximises freshness and minimises waste. #kitchen #professionalchefs 🧗🏾‍♂️ | Adam Schihab
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FIFO stands for First-In First-Out. It is a stock rotation system used fo…
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