FIRST-IN, FIRST-OUT

FIRST-IN, FIRST-OUT

first-in, first-out. An accounting method that assumes that goods are sold in the order in which they were purchased ¡ª that is, the oldest items are sold first. ¡ª Abbr. FIFO. Cf. LAST-IN, FIRST-OUT; NEXT-IN, FIRST-OUT.
What is the legal equivalent of the term FIRST-IN, FIRST-OUT in Chinese?
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