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    • German
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          • Term
            • First in first out
          • Additional fields of expertise
          • Definition(s)
            • First in first out (Fifo) Bewertungsverfahren für Lagerbestände (z. B. für die Bilanz), bei dem die Preise für die letzten Einkäufe die Bewertungsgrundlage bei Lagerentnahmen bilden. Es wird die Verbrauchsfolge first in first out unterstellt, d. h., was zuerst ins Lager geht, wird auch als Erstes entnommen. Wirtschaftslexikon24 - by Kai Zimmermann
          • Example sentence(s)
            • Bei dem First in, first out Prinzip (kurz: FiFo) wird zuerst das Material bzw. die ware verbraucht, welche zuerst gekauft wurde. Dieses Prinzip lässt sich gut am Beispiel eines Silos verdeutlichen: Ein Silo wird von oben befüllt, die Entnahme erfolgt jedoch von unten. - Lagerlogistik-Lexikon by Kai Zimmermann
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    • Bulgarian
      • Retail
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          • Term
            • първа входяща, първа изходяща (стока)
          • Additional fields of expertise
          • Definition(s)
            • Това е метод, използван в управление на складовите запаси, счетоводството - изписване на стоки по определена себестойност и в информатиката. В описаните примери се отнася за складовите запаси - първи се продават стоките, постъпили първи в склада - така по-старите стоки се продават първи и се обновяват запасите. Най-разпространено третиране 21. Разходите за материалните запаси, които не се уредени с параграф 19, следва да се определят чрез използването на формулите първа входяща, първа изходяща (FIFO) или средната претеглена стойност . 22. Според формулата FIFO позициите от материалните запаси, които са закупени първи, се продават първи и следователно оставащите в запасите позиции в края на отчетния период са тези, които са закупени или произведени последни. (РЕГЛАМЕНТ (ЕО) № 1725/2003 НА КОМИСИЯТА от 29 септември 2003 година относно приемането на някои международни счетоводни стандарти в съответствие с Регламент (ЕО) № 1606/2002 на Европейския парламент и на Съвета) РЕГЛАМЕНТ (ЕО) № 1725/2003 - by Станислав (Stanislav) Чалъков (Chalakov)
          • Example sentence(s)
            • Най-разпространено третиране 21. Разходите за материалните запаси, които не се уредени с параграф 19, следва да се определят чрез използването на формулите първа входяща, първа изходяща (FIFO) или средната претеглена стойност . 22. Според формулата FIFO позициите от материалните запаси, които са закупени първи, се продават първи и следователно оставащите в запасите позиции в края на отчетния период са тези, които са закупени или произведени последни. - COMMISSION REGULATION (EC) No 1725/2003 by Станислав (Stanislav) Чалъков (Chalakov)
            • LIFO and FIFO are terms commonly used in inventory control, in cost accounting and in computer science. They all stand for literally the same phrases, but it means something different in each application. In inventory control, they simply mean how you handle your merchandise. Do you restock the shelves by pushing the old items back to make room for new items of the same kind? Then the last items stocked will be the first items sold, or LIFO. This would be a typical stocking method for items that have no 'sell-by' date associated with them, or at least one that is in the distant future, such as canned good. Perishable items such as milk and eggs are restocked from the back, so that the old items are pushed to the front and are the first selected by shoppers; this is a FIFO restocking method. This is why most convenience stores have walk-in coolers behind their cold displays, so that they can stock from the rear. Obviously, you can handle some merchandise LIFO and some FIFO, depending on what it is and how fast you have to move it. In accounting, LIFO and FIFO mean two different ways of setting a value on your existing inventory and calculating your profit. Some retailers stock an individual type of item only once and then when it has sold out, they no longer carry it; ephemeral fads and fashions are examples of stock-once items. So they pay the same price for each unit of that particular item, and have no decision to make when valuing their inventory. Most retailers, however, stock a particular item for some time, replenishing their supply as they run low. The price on the item fluctuates with time, usually going up, alas. So the newest items you purchase may cost more (or less) than the ones you have had for awhile. Of course you may adjust your selling price on the item, but what does the increase in unit cost do to the value of your existing inventory? If you had to replace it all, you would now have to pay the higher price (or rarely, get to pay the lower price). Is your inventory system sophisticated enough to be able to determine which purchase lot each unit in stock was a part of? If not, you have to select an inventory evaluation method, either FIFO or LIFO. - Wise Geek by Станислав (Stanislav) Чалъков (Chalakov)
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    • English
      • Retail
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          • Term
            • first in, first out
          • Additional fields of expertise
          • Definition(s)
            • A method of stock rotation in which goods that are received first are sold first. Newly received product is stocked behind the older merchandise. About.com: Retailing
          • Example sentence(s)
            • Raw materials and ingredients should be stored and handled under suitable conditions to prevent spoilage, contamination and damage. Stocks of raw materials and ingredients should be properly rotated to ensure that the first-in-first-out principle is followed. - Hong Kong FEHD
            • Follow rotational policies closely. Seafood always should be handled on a 'first in, first out' basis. This is particularly critical for fresh seafood because of shorter shelf life, but it also should be applied to frozen product display cases. - Alaska Seafood Marketing Institute
            • Sell the earliest deliveries first - a frequent delivery service from one distributor will help to maintain the first in - first out arrangement. - FAO CORPORATE DOCUMENT REPOSITORY
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