FIFO (first-in, first-out) â assumes that the first goods purchased or produced are the first goods sold. Ending inventory is valued at the most recent purchase or production costs. LIFO (last-in, first-out) â assumes that the most recent goods purchased or produced are the first goods sold.
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Pill packs containing regular birth control pills have either 21 or 28 pills. Twenty-one-day pill packs contain 21 active pills. Twenty-eight day pill packs contain 21 active pills and seven inactive (placebo) pills. The pill packs are marked with the days of the week to remind you to take a pill every day.