FIFO (First In, First Out) comparison

FIFO, or First In, First Out, is a method used to manage inventory or data where the oldest items are used or removed first. Imagine a queue of people waiting to get on a bus: the first person in line is the first one to board. This principle ensures that items are sold or processed in the order they were received, which helps reduce spoilage in food storage or ensures the freshness of materials. It’s commonly used in accounting, logistics, and manufacturing to maintain efficiency and consistency in operations.