first in first out

/F ER1 S T IH0 N F ER0 S T AW0 T/

noun

1
(computing) A type of queue data structure in which the oldest added items are retrieved first.
2
(management) A policy of assigning priority to tasks and assignments that have arrived for service first.
3
(accounting) A method of inventory accounting that values items withdrawn from inventory at the cost of the oldest item assumed to remain in inventory.

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