FIFO by rotate stock by fifo system

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Accepted Answer

FIFO (First In First Out) is a system of rotating stock to ensure that the oldest items are sold first.

FIFO is commonly used in industries such as food and beverage, where products have a limited shelf life.
The system involves organizing products based on their arrival date, with the oldest items being sold or used first.
This helps to prevent waste and spoilage, as well as ensuring that customers receive fresh products.
FIFO can also be applied to inventory management, where it helps to prevent stock from becoming obsolete or outdated.
For example, a company might use FIFO to ensure that the oldest products are sold first, rather than allowing them to sit on the shelf and become outdated.
Overall, FIFO is an effective system for managing inventory and ensuring that products are sold or used in a timely manner.

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