Enterprise glossary and term center

Research and understand all the intricate terms and definitions that surround the ecosystem of enterprise resource planning (ERP), enterprise software and no-code tools.

First In First Out - What are the benefits of FIFO first in first out?

All the advantages of FIFO occur because when a company sells goods, the first costs it removes from inventory are the oldest unit costs. A company cannot manipulate income by choosing which unit to ship because the cost of a unit sold is not determined by a serial number.