Definitions for "First in, first out"
Keywords:  fifo, lifo, inventory, oldest, gat
An accounting method for valuing the cost of goods sold that uses the cost of the oldest item in inventory first.
("FIFO") For inventory accounting purpose s, the first unit into the inventory is assumed to be the first unit to be drawn out. The inventory value assigned to any unit drawn out is the value of the first unit record ed as still being in inventory. It does not matter which unit is physically drawn out of inventory. See also LIFO. [D03503] GAT
A method of inventory valuation whereby the goods first purchased or manufactured are considered the first ones sold. During periods of inflation, the FIFO method shows inflated profits compared to the last in, first out ( LIFO) method.
Keywords:  queuing, queue, acds, grocery, longest
A queuing discipline in which entities in a queue leave the queue in the same order in which they arrive.
A method of queue management where the first item in is the first item out, much like a grocery store line. See also queue.
A queuing technique that assures the next item or person to be handled is the one that has waited the longest. This is the technique most Service Desk/Help Desks and Customer Support Centres use. It is typically automated by using ACDs.
Keywords:  tbf, pns, principle, entries, treatment
Principle applied to the treatment of transactions by PNS and TBF, based on network date/time entries.