Glossary · Updated 2026-09-01
FIFO Inventory (First In, First Out)
Sell oldest stock first; cost each sale at the batch it actually came from.
FIFO (first in, first out) means the oldest purchased stock sells first. Each sale carries the cost of its actual batch — so gain figures stay honest when purchase prices change.
Example: buy 20 Cokes at ₦500, later 10 at ₦550. Selling 6 still costs 6 × ₦500 until the first batch empties.
LodgeStatus POS implements FIFO automatically across restocks, sales, and damage write-offs.
See it working in a real hotel system — free for 30 days.
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