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| English | Icelandic |
| First Expiry First Out | Fyrst útrunnið - fyrst út (A method used for determining the order in which goods should be taken out of inventory, so that items with the earliest expiration dates are taken first) |
| first in | FIFO-birgðamatsaðferð |
| first out inventory valuation method | FIFO-birgðamatsaðferð (A method of inventory valuation in which inventory is assumed for accounting purposes to move in the order it was received, regardless of its actual physical movement) |
| last in, first out inventory valuation method | LIFO-birgðamatsaðferð (An inventory valuation method in which inventory that is received most recently is considered sold or used first for accounting purposes) |