Under the inventory system, FIFO, you sell
A) by shipping directly from one of your suppliers.
B) the first goods you obtained last
C) the last goods you obtained first.
D) the first goods you obtained first.

Question

Quizplus · Accepted Answer

Under the FIFO (First-In, First-Out) inventory system, the first goods obtained are the first ones sold. This method assumes that the oldest inventory items are sold before the newer ones.

Under the Inventory System, FIFO, You Sell