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-deckedoutcompos
February 22, 2022
Question

I have an item in stock and I paid £20 for that item previously. If I then order more of the same item and pay £19 for it, will my existing stock will be revalued at £19?

  • February 22, 2022
  • 1 reply
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I'm concerned that if I pay a different price on a supplier PO for an item I already have in stock, it will revalue my existing stock to the new price. Obviously I would want it to only value the new stock at the new price.

1 reply

G
GeorgiaC
February 22, 2022

Hi -deckedoutcompos, thanks for joining us here on the Community 🙂

 

QuickBooks Online uses the First In, First Out (FIFO) method for stock accounting, meaning that we'll always use the first units sold and their initial cost before any increase in stock price. 

 

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-deckedoutcomposAuthor
February 22, 2022

Thanks for your reply, most helpful.

 

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