We have QB's desktop Enterprise 2019 which is new to us as of 5/2019. Prior to that it was QB's Desktop Premier. I'm not sure if this is part of the issue.
We changed our inventory costing to FIFO as of 1/1/2020, after realizing that the prior version of QB's only did average pricing. All of our inventory items are resold at a price 115% of cost. When creating new invoices, we have found that the price being used is always the most recent purchase price, instead of the cost of the oldest item in inventory. We have even created "test" items, purchased this year at different price points, then tried to invoice those items, however they still pull the most recent item cost.
We thought the point of FIFO was to make sure that we are using the cost of the oldest item in stock and our invoices should reflect that amount. How do we make sure that the invoicing is pulling the correct amount?
