FIFO LIFO AND AVERAGE INVENTORY
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
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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
