I’d be more than happy to help you determine whether the QuickBooks Online (QBO) account is using FIFO (First In, First Out) or Weighted Average for inventory tracking, @eivonne.
By default, QuickBooks Online uses FIFO for inventory tracking. QBO prioritizes the first item you purchase as the first item you'll sell. FIFO helps you streamline inventory management and operations, provide accurate financial reporting, and help businesses comply with accounting standards.
Please check out this article for reference: What is FIFO and how is it used for inventory cost accounting?
On the other hand, QuickBooks Desktop uses weighted average cost to determine how you track your inventory. It provides a balanced and simplified approach to managing inventory costs and financial statements.
If you want to manage your inventory seamlessly, you can read this article to learn more: Set up and track your inventory in QuickBooks Online.
Feel free to reach out if you have any about inventory management in QBO. I'll be sure to help you out.
