First In, Still Here - FISH

There are two basic methods for accounting for the value of a company's inventory of finished goods: LIFO and FIFO.

LIFO stands for "Last In, First Out." It assumes that the most recently-produced good gets sent out to customers first. FIFO stands for "First In, First Out." It assumes that the oldest inventory gets sent out before anything else.

"First in, Still Here" is a kind of joke, playing on the names of those other two inventory accounting schemes. It suggests that a company isn't able to sell any of its inventory. Old stuff doesn't get sent out. Newly-built stuff doesn't get sent out. Everything just piles up in the warehouse. Still here.

In general, it's not a good sign for a company to reach FISH status. It means the firm produces more than it can sell. It needs to do something to fix the problem: drop prices to clear out some inventory, or lower its production (or maybe both).