Can I have QuickBooks ® track inventory on a FIFO basis?
QuickBooks ® can maintain inventory on an item by item basis. However, it is not powerful enough to track the cost of inventory on the FIFO basis. QuickBooks ® tracks the cost of items purchased on an average cost basis. This is not always the basis a company uses and can present a limitation on reflecting an accurate value of your inventory. We can help you choose another general ledger software package which can serve your needs.
