Select the correct answer from each drop-down menu.
What does FIFO mean?
In most hotels,
on a FIFO basis. FIFO stands for

Answer :

Final answer:

FIFO in business refers to First In, First Out inventory management.


Explanation:

FIFO stands for First In, First Out. In most hotels, inventory is managed on a FIFO basis. This means that the items purchased first are also the first to be used or sold.


Learn more about FIFO inventory management here:

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