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Level 1

COGs being discounted in QBO

I have inventory items in QBO that the COGs keeps getting discounted. When I enter an invoice with my products the COGs is different from what I have set up in my accounts. Anyone else had this issue and was able to fix?



2 Comments 2
Level 15

COGs being discounted in QBO

The cost of an inventory item which is sold is determined by the purchase price.  Not the cost you "set up"

Level 13

COGs being discounted in QBO



It could be due to the fact that QBO uses the FIFO method of inventory costing.  QBO sells the items you received into inventory first.  So, for example, if you received the same item at $50, then at $55 & finally at $60, it will sell the $50 items first even though you paid $60 for the most recent purchase of that same item.     

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