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Actually, I believe FIFO (first in, first out) is jargon peculiar to the warehouse. It's antonym, LIFO (last in, first out) too. However, the latter term is usually appropriated by the personnel department to ensure the most recent hire is laid off before those with seniority.

FIFO is used in many different applications (including warehouses). Electrical Engineering (digital logic) uses it as far as the order bits of information are removed from memory. [my description of this may be a little off, but then it's from a class I took 7 years ago]. And, it is also the term used for the sale of stock (if you don't designate the shares explicitly).

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