WordReference Random House Unabridged Dictionary of American English © 2016
FIFO  (fīfō), 
  1. BusinessSee first-in, first-out. 
  2. Computing[Computers.]a storage and retrieval technique, used mainly for data, in which the first item stored is also the first item retrieved.

Collins Concise English Dictionary © HarperCollins Publishers::

FIFO /ˈfaɪfəʊ/ n acronym for
  1. first in, first out (as an accounting principle in costing stock)
    Compare LIFO

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