First in, first out

Definition - adj
: being or relating to a method of valuing inventories by which items in the lot first received are assumed to be issued or sold first and requisitions are priced at the cost per item of the oldest lot on hand
compare last in, first out



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Based on Merriam-Webster's Dictionary of Law ©2001.
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best evidence rule

a rule of evidence: in order to prove what is said or pictured in a writing, recording, or photograph the original must be provided unless the original is lost, destroyed, or otherwise unobtainable


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