With QuickBooks Enterprise Solutions subscriptions that include Advanced Inventory, you have the option to switch from average cost to FIFO (first in, first out) to calculate the value of inventory sold and on-hand.
When you use FIFO, QuickBooks calculates inventory values based on the assumption that the first items received are the first sold.
If you want to use FIFO, please follow these steps:
Go to Edit at the top menu bar, then choose Preferences.
Select the Items & Inventory on the left pane, then hit the Company Preferences tab.
Click the Advanced Inventory Settings.
Choose the FIFO tab.
Make sure to tick the Use FIFO starting on radio button and set the date.
Hit OK twice.
Let me share these resources for more details about inventory: