AccorHotels Asst Store Interview Questions and Answers

FIFO and LIFO are inventory management methods. FIFO means First-In, First-Out, where the oldest items are sold first. LIFO means Last-In, First-Out, where the newest items are sold first.

• FIFO is used when perishable items are involved, ensuring that older items are sold before they expire.

• LIFO is used when the cost of inventory is rising, as it allows for the sale of newer, more expensive items first.

• FIFO and LIFO can...read more