what is first in first out method

what is first in first out method (FIFO) is a common inventory management technique used by businesses to ensure that the oldest inventory is sold or used first. FIFO is particularly important for businesses dealing with perishable goods or time-sensitive products. By using this method, businesses reduce the risk of having outdated products in stock. FIFO helps companies maintain fresh inventory, which can improve customer satisfaction and reduce waste, making it an effective strategy for many e-commerce businesses.