How to set cost of goods calculation as average cost. now it seems first in, first out. But we need average cost of goods to be taken when goods sold

Hello there, @accounts328,

Currently, QuickBooks Online (QBO) only uses the First In, First Out (FIFO) concept for inventory cost accounting. I've got an alternative method you can perform to help achieve your goal. 

I'd suggest looking for an inventory management app that's available in your region and can integrate with QBO. This way, you'll have an option to set the cost of goods calculation as average cost. 

In the meantime, I recommend visiting this link to keep track of our product improvements: Resource Centre.

You can also run reports to view your sales, cost of goods, and inventory status in QBO. 

I'll be right here to help if you have other concerns. Take care. 

@accounts328 

You may have 2 options:

1. Integrate your QB Online with an inventory management app

2. Switch to QB Desktop