FIFO stands for first-in, first-out, meaning that the oldest inventory items are recorded as sold first but do not necessarily mean that the exact oldest physical object has been tracked and sold.In other words, the cost associated with the inventory that was purchased first is the cost expensed first.IFO and LIFO accounting. From Wikipedia, the free encyclopedia. FIFO and LIFO methods are accounting techniques used in managing inventory and financial matters involving the amount of money a company has tied up within inventory of produced goods, raw materials, parts, components, or feed stocks.
The painter had mixed fortunes in life, but his works are being celebrated this year in Crete and in Spain on the 400th anniversary of his death. El Greco was born Domenikos Theotokopoulos in Crete in 1541, and information about his early life is sketchy at best.
El Cid and his wife Jimena DÃ­az lived peacefully in Valencia for five years until the Almoravids besieged the city. According to legend, El Cid was fighting one of the men when he was shot in the heart with an arrow.