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Glossary of the 1993 SNA - Definition of Term

TermFIFO (first-in-first-out)
DefinitionFIFO (first-in-first-out) is an inventory valuation method based on the assumption that goods are withdrawn from inventories in the same order as they entered.
Paragraphs6.70.
 
It is acknowledged that this glossary uses descriptions of the OECD glossary of statistical terms, the Glossary of the System of National Accounts 1993 and the UN classifications registry.
 
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