Purchasing Inventory

Hello there, @Sheets.

Thanks for your first post. The answer is yes. Selecting "Yes" can affect your cost from the previously purchased inventory, while selecting "No" will stay as-is.

I've got you here are some interesting articles to help you more ideas about the FIFO feature and how it works in QuickBooks Desktop:

• FIFO Options in QuickBooks Desktop Enterprise
• What is FIFO and how is it used for inventory cost accounting?

Come again and post some more here in the Community. I'd be delighted to answer your next posts. Have a great day ahead!

Thank you. Is the FIFO feature available with Desktop Premier

Hey there, @Sheets.

Advanced inventory such as the FIFO method is only available in QuickBooks Enterprise. Here's the link on where to upgrade to Enterprise if you'd like: QuickBooks Enterprise. 

Should you decide to upgrade from Premier, refer to this article to set up FIFO: FIFO Options.

As another option, you can look for a third-party app that can account for the FIFO method. You can visit our Apps Store to look for an app that suits your needs. 

Here's how:

1. Go to QuickBooks Apps Store.
2. From the QuickBooks Compatibility section, choose the QuickBooks Desktop version you're using.
3. Type in the clue word of the specific app you're looking for in the Search field. Then, click the magnifying glass to search. 

Always feel free to visit us here in the Community if you need assistance with managing inventories. I'm just a few clicks away.