There's an accounting phrase that speaks to the price that's attached to a large inventory of goods. That phrase is "first in, first out" (FiFo). For accounting purposes, if an inventory of goods are bought on different days and at different prices, the first item sold is given the price of the first item brought into the inventory. That's important. "Carey, why is that important?". Well, in simple terms, if the total inventory consisted of 100 items, and the first 98 were purchased for $1.00, and the last 2 for $10.00, there's a potential for fraud. "Fraud?....... fraud who?". Well, some slippery businessmen will conveniently forget the purchase price of the first 98 items, and thus, hide profits by claiming or implying that the price of the last 2 items is the price they paid for the entire stock. Do you get it? Check this: 100 items @ $10.00.....Total $1000.00 - Okay?
Now, 98 items @ $1.00 = $98.00, plus 2 items @ $10.00 = $20.00, grand total...... $118.00! Ut oh, somethings fishy. Yeah, something is rotten in the old accounting books. "we ain't made no money sir. See here, dis my receipts, dis what I paid for dem der socks". Yep, an Harvard grad turned Step-n-Fetch-it.
FiFo (First In- First Out)? Well, I wanted to start with Kat Williams, and at the same time, I didn't want you to forget about him. I mean, while watching football games, I've noticed that some referees only see the retaliatory punch- the last punch.