Sort Picklist based on Parent record field

Sort Picklist based on Parent record field

Hello, 

I am working on an inventory app and I need to be able to to sort items based on their expiration date in the subform pick list. 

Also, when I add the item on one line item of the subform - is it possible to exclude that item from selection in subsequent line items.

Thank you so much for ideas in advance!

Raidas