Elias Posted December 11, 2017 Share Posted December 11, 2017 What is FIFO? Link to comment Share on other sites More sharing options...
1MazManny Posted June 22, 2018 Share Posted June 22, 2018 First In, First Out - You sell the latest version of the product in your inventory. Opposite of this is LIFO, sell the older items first. LIFO is what I use at my bar, to sell the previously stocked item before the newly purchased item. This keep inventory rotating so items do not get old in stock. Link to comment Share on other sites More sharing options...
ACE-IroncladCafe Posted March 31 Share Posted March 31 Sorry to necro, but for those that may find this in a search and are trying to learn, please keep in mind that 1MazManny's post is backwards. FIFO = First In, First Out; Oldest items are sold first. LIFO = Last In, First Out; Newest items are sold first. Loyverse has a decent article on best FIFO practices here. Link to comment Share on other sites More sharing options...
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