FIFO LIFO AND AVERAGE INVENTORY

[Robyn96]

anybody here may help me to explain how to change the price sistem inventory from average to lifo or fifo in myob V.18....

Thanks

[Carolinadg]

Hi @Robyn96 

MYOB only uses average costing, this is the way that the product has been built. It is not possible to do within the product. 

You may need to have a spreadsheet and manually keep track of the pricing of each item and do journals adjusting the COGS amount when selling them, however, I really don't suggest this as it can become very messy very quickly. 

Regards, 

Carolina