Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

Search the Dictionary of Terms

Search Results: 1-1 of 1 result for “First In, First Out (FIFO)”
  • First In, First Out (FIFO)

    A valuation and assetmanagement method in which goods acquired or produced first are used, sold, or disposed of first. See also: Last In-First Out.
Advertisement
Advertisement

SUGGESTIONS FOR THE DICTIONARY

 

Is there a term missing from our dictionary?

 

Does a more concise or relevant definition apply?

 

Submit your comments/suggestions to our editorial board at dictionary@nigp.org