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If its product that has a shelf life, like food the products, it should be rotated. stored so the the oldest is shipped first. Even in the case of non-perishable product it is a good idea to ship the oldest product first. In some cases a decision will be made higher up to decide if the older inventory can still be shipped, in the case of products with versions or new features.

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Q: When putting away or stocking recently or dated freight what should be done with the older existing freight that is already there?
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When putting away or stocking recently dates freight what should be done with the older existing freight that is already there?

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It depends on your racking system. If you are running your warehouse properly, every piece of freight that goes in is dated before you put it in the racking. When you pull this merchandise to sell, you pick the oldest pallet. Some places like to move freight around so the oldest pallets are on the lowest tiers, but that's unnecessary work.