Basic LIFO and FIFO - depending on material type and extent of warehouse space

 Both the LIFO ( First in First Out ), last in first out and first in first out FIFO commonly used, but traditionally or in daily practice, the boss often asks FIFO!, Auditors were also asked "is FIFO not?" if not FIFO ( First in First Out ) can be directly recorded, that you are not running the rule should be, although both are highly influenced by circumstances and are very tolerant to certain materials.

LIFO ( Last In First Out ), one of the ways in which rotates SKU (Stock Keeping Unit) final goods entering the first exit, it could be done, for example due to limited storage space or less wide to set the 'material flow' and it is very possible for a non-food goods, not stale (non-date) like a garment, chemical specific grain and the like. It's also the risk if the warehouse is very limited, so to maintain its flow we have to do the location change, or relocation, relocation of materials that we keep.
Thus, profits in this way mainly to lower warehouse area or volume required.

FIFO ( First in First Out ), this is the way rotate SKU (Stock Keeping Unit) most often called, where the goods are first in first out as well, usually applied to perishable goods such as food and the like. Very well, but this can only be done with sufficient storage conditions so that the material flow process is 'smooth', or even with the help of certain equipment (rack, rack conveyor, etc.). So the lack of this system is in need of a larger area.