Highest In, First Out (HIFO)

Highest In, First Out (HIFO),

What Does Highest In, First Out (HIFO) Mean?

HIST in First Out (HIFO) is a method of allocating and accumulating inventory that first uses cost inventory or removes it from inventory. This will affect the company's books so that in a given period of time, the price of the goods sold (COGS) will be as high as possible and the closing stock will be as low as possible.

  • One of the most expensive ways to calculate a company's inventory by removing the most expensive items from the inventory is HIFO.
  • HIFO inventory helps reduce a company's taxable income because it costs the most to sell.
  • HIFOs are rarely used and are not recognized by common accounting methods and guidelines such as GAAP or IFRS.

Literal Meanings of Highest In, First Out (HIFO)

Highest:

Meanings of Highest:
  1. To a large extent or in a certain amount.

  2. very much

  3. (Long) for or in high notes.

  4. Highlights, levels or numbers.

  5. A famous moment of happiness or success.

  6. High school.

  7. From a vertical surface

  8. Larger than usual in number, size or intensity.

  9. Excellent in rank, status or importance.

Sentences of Highest
  1. This statue is about five meters tall.

  2. Is one of the pioneers of chemical technology

  3. My voice rose with joy

  4. Commodity prices are at extraordinary levels

  5. Ups and downs in life

  6. High mountain peak

  7. Both held positions of responsibility under Lloyd George

  8. Loud voice

  9. This is candy butter used for cooking, it has a strong odor.

  10. The 'i' symbol (as in most spellings) in the IPA indicates a high front head.

Synonyms of Highest

extortionate, on cloud nine, at great height, ecstatic, elevated, piping, euphoric, sky-high, eminent, distinguished, drugged, outrageous, tall, prominent, high-level, peak, penetrating, treble, important, hallucinating, soprano, notable, prime, ruling, powerful, at altitude

In:

Meanings of In:
  1. Expressing a situation that is closed, closed around it or looks like something else.

  2. Identify the period during which an incident occurred or the situation remained the same.

  3. State the time period before any future event occurs.

  4. (Usually after a non-specific noun) which expresses a condition or condition.

  5. Join or announce participation.

  6. Please show someone's occupation or profession.

  7. Determine the language or media used.

  8. As an integral part (an activity)

  9. Status of influence with a powerful or famous person.

  10. (Someone) who is in your home or office.

  11. Beautiful

  12. (Ball in tennis and similar sports) Landing in designated play area.

  13. Express movement as a result of someone, or as a result of being trapped or surrounded by something else.

Sentences of In
  1. Wear your best Sunday

  2. They met in 1885

  3. See you in fifteen minutes

  4. Fall in love

  5. I read about it in a book

  6. She works in publishing

  7. To say in polish

  8. When planning public spending, it's best to be cautious

  9. We knocked on the door but no one was there

Synonyms of In

at the end of, in style, trendsetting, into the interior, within the confines of, rising, into the building, popular, into the room, in the middle of, within, home, at its highest level, high, stylish, after, chic, during, in vogue, within the bounds of, fashionable, inside, in fashion

First:

Meanings of First:
  1. Be the first to arrive on time or be the first to order in advance.

  2. Especially in place, location or importance.

  3. With a particular party or individual who holds any position.

Sentences of First
  1. Your first wife

  2. The first duty of a doctor is to respect this right.

  3. Was the first person to set a cookie in the river

Synonyms of First

top, greatest, foremost, chief, original, prime, paramount, main, initial, uppermost, topmost, introductory, utmost, major, earliest, opening, leading, highest, principal

Out:

Meanings of Out:
  1. Thanks there.

  2. A way to avoid any trouble or dilemma.

  3. The task of eliminating the player.

  4. Political parties or politicians who do not hold office.

  5. Not at home or at work.

  6. Disclosure or publication

  7. Blooming (of flowers).

  8. It doesn't shine anymore.

  9. This is neither possible nor should be considered.

  10. In a coma

  11. Error after error.

  12. Outside the designated play area (from ball to tennis and similar sports).

Sentences of Out
  1. The door is running

  2. The biggest difference between them is that these two players have paid more than their careers.

  3. Australia's first Labor Party, which was highly critical of colonial policies, wanted people to rule more directly.

  4. I'll pretend when I call

  5. June, when the poppies open, is a great time to visit Umbria.

  6. The fire is near

Synonyms of Out

in full bloom, insensate, public knowledge, insentient, known, elsewhere, display, inaccurate, wide of the mark, incorrect, stunned, uncover, manifest, disclose, in flower, unveil, absent, inert, unmask, quenched, blooming, not at home, not in, dead, divulged, defunct, in bloom, passed out, flowering