FIRST-IN, LAST-OUT (FILO)
\fˈɜːstˈɪn], \fˈɜːstˈɪn], \f_ˈɜː_s_t_ˈɪ_n]\
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Managing inventory based on the idea that the value is compared between the first and last bought items. The cost of the first good is the same as the cost of the last goods. It is the same as the last in first out accounting methods.
By Henry Campbell Black
