LIFO, FIFO, and FISH

Posted by Bob on March 30, 2007

In Reply to: LIFO posted by pamela on March 30, 2007

: : : : : : : which is the correct expression-Seats will be confirmed on a first come,first serve(d) basis

: : : : : : I believe it's: first come, first served.

: : : : : Yes, it is. I think we've discussed this one before. ~rb

: : : : I think that "served" makes sense - since the first person to come (to the smorgasbord) is the first to be served. Someone I work with is in the habit of saying "Quick! Quick! Get in before the greedy people!" Pamela

: : :
: : : This formula is also used in shipping meaning there is no advanced berth reservation procedure - the berths are assigned to the veseels in their arrival order.

: : who serves at a smorgasbord?

: : the contrasting expression is LIFO - "last in, first out" - which is a policy previously used for redundancy decisions - the most recent employees were the first to be made redundant. there are two reasons for this 1. it is cheaper, as the most recent have least rights and 2. it ensures as much continuity as possible.

: : L

: Smorgasbord? What dummy said that? Pamela.

Accountancy joke. There are three ways to account for (value) inventory: LIFO, FIFO, and FISH. Last in, first out. First in, first out, and (note: deliver the punch line in a low, ominous voice) First In, Still Here.