I would like to summarize what I've learned here.

Since I'm new to accounting. Please forgive me if I did something wrong.

From my original question "How FIFO work when received item multiple time in a single day?"

Catherine help clarified how QB FIFO work.

Base on her answer and my experiment

It works in the order of 

1) Transaction Date (Ex. Starting Value Date, Bill Date)

2) If Transaction Date is the same the most items will be used.

3) If Both Transaction Date and Number of Items is the same then create date.

vpcontroller and Malcolm help point out that it seem to be a bug 

that Bill come first before Inventory starting value.

And the workaround right now is to shift inventory start date to before the Bill date.

Thank you all for help and suggestions.