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Jun 09,  · First-In, First-Out (FIFO) is one of the methods commonly used to estimate the value of inventory on hand at the end of an accounting period and the cost of goods sold during the period. This method assumes that inventory purchased or manufactured first is sold first and newer inventory remains unsold. Thus cost of older inventory is assigned to cost of goods . Rules for First Sets. If X is a terminal then First (X) is just X! If there is a Production X → ε then add ε to first (X) If there is a Production X → Y1YYk then add first (Y1YYk) to first (X) First (Y1YYk) is either. First (Y1) (if First (Y1) doesn't contain ε). Mar 29,  · First In, First Out organizes food by expiration or use-by date. For the system to work, all food in refrigerators, freezers, and dry storage must be marked with a use-by date. If food doesn’t have a use-by or expiration date, workers should mark the food package with the date received and use that date as a storage Azhearted Reading Time: 4 mins. Read more