How to Display the most recently added products first in magento 1.6.0.0

Magento Provides three different options to sort the catalog products i.e
name, price, position. For a store with more than 1000 products it is not
possible enter position values in backend for each products. We can replace
this with product ids , so that the frontend will display the most recently
added products.

Step 1: To Achieve this copy the file Toolbar.php from app/code/core/Mage/Catalog/Block/Product/List/Toolbar.php. Create a Directory Structure in local and paste the Toolbar.php
as shown below
app/code/local/Mage/Catalog/Block/Product/List/Toolbar.php

Step 2: Around line 232 you should see the below code in setCollection
function

Replace the above code with the new code given below

Now the newly added products will be displayed first in your magento store.

Compatability: Magento 1.6