Question
What does HIFO, an inventory method based upon the concept of the inventory costing the most will be the first to be used or taken out of stock, stand for?
Responses
High-Priced In, First Out
High-Priced In, First Out
Heaviest In, First Out
Heaviest In, First Out
Highest In, First Out
Highest In, First Out
Handiest In, First Out
Responses
High-Priced In, First Out
High-Priced In, First Out
Heaviest In, First Out
Heaviest In, First Out
Highest In, First Out
Highest In, First Out
Handiest In, First Out
Answers
GPT-4o mini
HIFO stands for **Highest In, First Out**. This inventory method prioritizes using the highest-cost inventory items first.