Inventory Value by Lot?

Good to see you here in the Community space, RKN.

Congratulations on your new QuickBooks Desktop. I'd be happy to share what I know about inventory in QuickBooks.

The Average Cost valuation method is what QuickBooks uses to compute the value of your inventory unless you choose FIFO in the Advanced Inventory add-on to Enterprise Solutions. So ideally QuickBooks will keep the value per lot.

You can pull up the Inventory Valuation Detail Report to see all inventory items and displays the transactions behind the numbers. The report also tells you:

• How each transaction increased or decreased the quantity
• The purchase price (on item receipts and bills)
• How many are available
• Each item’s average cost, and
• The asset value.

To pull up the report:

1. Click Reports at the top menu.
2. On the drop-down list, click Inventory.
3. Select Inventory Valuation Detail.

Also, you may find these articles helpful:

• https://community.intuit.com/articles/1764739.
• https://community.intuit.com/articles/1773926.

Hope I helped you get all straightened out today. Let me know if you have other questions. Have a nice day!

@RoseMarjorieA - FIFO in the Advanced Inventory add-on to Enterprise Solutions. So ideally QuickBooks will keep the value per lot.

Only IF, the whole lot is purchased at one time, which is not the case in the OP's example. FIFO is average cost per purchase. So the purchase is the key.

@RKN

No, QB does not keep value by lot.

Without the advanced inventory add on and FIFO being selected, it is average cost across all purchases