Small bales are still produced today. While balers for small bales are still manufactured, as well as loaders and stackers, there are some farms that still use equipment manufactured over 50 years ago, kept in good repair.
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First-In, First-Out (FIFO) Method. First-In, First-Out (FIFO) is one of the methods commonly used to calculate the value of inventory on hand at the end of an accounting period and the cost of goods sold during the period. This method assumes that inventory purchased or manufactured first is sold first and newer inventory remains unsold.