Reliance Retail Deputy Manager Interview Questions, Process, and Tips

Lifo and fifo are inventory management methods used to track the flow of goods.

• Lifo stands for Last In, First Out, meaning the most recently received items are sold first.

• Fifo stands for First In, First Out, meaning the oldest items in inventory are sold first.

• Lifo is often used for products with a short shelf life, while fifo is used for products with a longer shelf life.

• For example, a grocery store might use fifo for...read more