While LIFO is an acronym for last-in, first-out, FIFO stands for first-in, first-out. The LIFO method is based on the idea that the most recent products in your inventory will be sold first.

The first in, first out (FIFO) method assumes that the first unit making its way into inventory–the oldest inventory–is sold first. For example, let's say that a bakery produces 200 loaves of ...

The first in, first out (FIFO) method assumes that the first unit making its way into inventory–the oldest inventory–is sold first. For example, let's say that a bakery produces 200 loaves of ...

FIFO, HIFO and Spec ID (among others) are key methods to calculate crypto tax ... you sell your most recently purchased coins first. For example, using the same scenario, if you sell 1 ETH in ...