What is an FIFO what is an LIFO

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FIFO and LIFO are inventory management methods used to track the flow of goods.

FIFO stands for First-In, First-Out, meaning the first items received are the first items sold or used.
LIFO stands for Last-In, First-Out, meaning the last items received are the first items sold or used.
FIFO is commonly used for perishable goods, while LIFO is commonly used for non-perishable goods.
FIFO results in lower taxes and higher net income, while LIFO results in higher taxes and lower net income.

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Any product last in fast out 
Fifo first in first out

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Fifo . First in first out its  Applicable to those products on which expiry date and manufacture date are not written.

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First in first out last in first out

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Last in first out, first in firstout

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First in first out

Last in first out

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FIFO Means First in first out LIFO means last in first out that,s point depend on clint

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Old product first out

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You should work for always FIFO beacuse any thing which is come first should be deliver or consume. Lifo which we can used last because we received last and we have to time consume it.

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First in first out last in last out

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First in first out ,last in last out

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Frist in frist out and last in last out

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FIFO : FIRST IN FIRST OUT .

IT'S A METHOD OF VALUATION OF INVENTORY. WHERE GOODS THAT COMES IN FIRST THAL WILL OUT FIRST.

LIFO : Last in First out. It's method of valuation of inventory. Where goods that has come last out first.

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First in first out

Last in first out

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First in first out

Last in first out

What is an FIFO what is an LIFO

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