FIFO stands for first-in, first-out, meaning that the oldest inventory items are recorded as sold first but do not necessarily mean that the exact oldest physical object has been tracked and sold.In other words, the cost associated with the inventory that was purchased first is the cost expensed first.IFO and LIFO accounting. From Wikipedia, the free encyclopedia. FIFO and LIFO methods are accounting techniques used in managing inventory and financial matters involving the amount of money a company has tied up within inventory of produced goods, raw materials, parts, components, or feed stocks.
The painter had mixed fortunes in life, but his works are being celebrated this year in Crete and in Spain on the 400th anniversary of his death. El Greco was born Domenikos Theotokopoulos in Crete in 1541, and information about his early life is sketchy at best.
THE OLD LAMP LIGHTER. A long time ago, in a land far across the ocean, there lived a kindly old man whose name was Alfonso. Alfonso lived in a small house, at the end of a small street, in a small town called Villa Macaroni. He shared the little house with a mouse named Minerva! Minerva was very old too.