FIFO does not assume which of the following? sell old inventory first. or sell the new inventory first

Question

Mathematics

Angelica Kemp

14 October, 17:00

FIFO does not assume which of the following? sell old inventory first. or sell the new inventory first

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Khalil Rice · Answer 1

First In First Out.

FIFO intends to sell the first one that comes through the door first, and that item will be the oldest one in the inventory, so the old one gets sold first.

so it doesn't assume to sell the new one first.