Online Accounting with Integrated Ecommerce

FIFO, LIFO, or average cost

Typically a business has a stock valuation model for stock as part of its accounting policies. The choice of model produces a different result in each case. Inrax supports First In First Out (FIFO), Last In First Out (LIFO), or average cost. In practice stock items will inherit a valuation model from a root product group in Inrax. However it is possible to vary the valuation model for different types of stock, down to individual stock lines.