About the FIFO Method

The First-in First-out (FIFO) method is one of the most common methods of inventory valuation which is based on the following rule: the sale of items follows the same order in which they are bought.

In CStoreOffice®, the FIFO method can be used for the following inventory types:

• Store Inventory: For more information on how to perform store inventory, see Consolidated Store Inventory Progress Report.
• Fuel Inventory: For more information on how to perform fuel inventory, see Fuel Inventory.

For more information about using the FIFO method in CStoreOffice®, see the following sections:

• How to Activate the FIFO Method in CStoreOffice®
• Item Cost Calculation