It is an accounting method which assumes that the units purchased first are the units sold/redeemed first.
Open positions are closed according to the FIFO accounting rule. All positions opened within a particular currency pair are liquidated in the order in which they were originally opened.
Abbreviation: FIFO The method whereby the goods which have been longest in stock (first in) are used delivered (sold) and/or consumed first (first out).
A term used to describe a method of inventory control where the items are issued for use based on the date they were recorded in the inventory
First-in first-out is a method used to calculate the cost if stocks or inventories. It assumes that the oldest items or costs are the first to be used. It is commonly applied to the pricing of issues of materials, based on using first the costs of the oldest materials in stock, irrespective of the sequence in which actual material usage takes place. Closing stocks are therefore valued at relatively current costs.
This term refers to the order open orders are liquidated. The first orders to be liquidated are the first that were opened.
Also known as FIFO, a system of keeping track of the order in which information or materials need to be processed. The goal of FIFO is to prevent earlier orders from being delayed unfairly in favor of new orders.