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Are the reports (like Balance Sheet or Profit & Loss) in QuickBooks still correct after running FIFO Inventory Valuation?

April 26, 2017balance sheet FIFO Inventory loss profit QuickBooks reports running valuation

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Are the reports (like Balance Sheet or Profit & Loss) in QuickBooks still correct after running FIFO Inventory Valuation?

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Yes, they will stay correct. The Inventory Asset and the Cost of Goods Sold will contain the value based on the FIFO method on the inventory valuation.