两者都是财报中有关存货的计价方法。

first in first out先进先出法

先进先出，是指根据先入库先发出的原则，对于发出的存货以先入库存货的单价计算发出存货成本的方法。采用这种方法的具体做法是：先按存货的期初余额的单价计算发出的存货的成本，领发完毕后，再按第一批入库的存货的单价计算，依此从前向后类推，计算发出存货和结存货的成本，这就是先进先出。

其英文释义如下：

First In, First Out, commonly known as FIFO, is an asset-management and valuation method in which assets produced or acquired first are sold, used, or disposed of first.

For tax purposes, FIFO assumes that assets with the oldest costs are included in the income statement's cost of goods sold (COGS). The remaining inventory assets are matched to the assets that are most recently purchased or produced.

其优点是使企业不能随意挑选存货计价以调整当期利润，缺点是工作量比较繁琐，特别对于存货进出量频繁的企业更是如此。而且当物价上涨时，会高估企业当期利润和库存存货价值；反之，会低估企业存货价值和当期利润。

last in first out后进先出法

后进先出法是指假定后入库的存货先发出，据此计算发出存货成本的方法。采用后进先出法时，每批发出存货的成本，按存货中最后入库的那批单价计算，如果发出存货的一批数量超过最后入库的那一批数量，超过部分依次按上一批入库的单价计算。

其英文释义如下：

The last in, first out, or LIFO (pronounced LIE-foe), accounting method assumes that sellable assets, such as inventory, raw materials, or components, acquired most recently were sold first. The last to be bought is assumed to be the first to be sold using this accounting method.

新会计准则已经取消了后进先出法。主要原因在于后进先出法将更早期形成的成本留在企业存货中，将最近形成的价格分配给销售成本，这样由于通货膨胀的原因长期累积会低估企业存货的公允价值，降低各期的当期利润。同时这种方法也使得企业应交所得税减少。

以下为相关双语示例，供参考：

Cost is determined using the first-in, first-out (FIFO) method and comprises all costs of purchase and other costs incurred in bringing the inventories to their present locations and conditions.

成本乃使用先进先出法决定，并包括所有购买成本及将存货运至现有地点并达至现时状况之其他成本。

In addition to the LIFO (last in, first out) method, the FIFO (first in, first out) and the average cost methods are also accepted when determining the cost value if the company uses such methods for company law purposes.

在确定存货成本时，除LIFO（后进先出）法外，亦可使用FIFO（先进先出）法，如果公司为法律目的，也可使用平均成本法。