FIFO Calculator

Calculate First In First Out (FIFO) inventory costs, cost of goods sold, and ending inventory values

✓ Inventory Accounting ✓ Cost of Goods Sold ✓ Ending Inventory

FIFO Inventory Calculator

Beginning Inventory

Purchases

Purchase 1

Purchase 2

Total units sold during the period

About FIFO

FIFO assumes the first items purchased are the first items sold

FIFO Method:

1. Sell oldest inventory first
2. Calculate COGS from oldest costs
3. Ending inventory uses newest costs

FIFO vs LIFO

FIFO (First In, First Out)
Oldest inventory sold first
Lower COGS in rising prices
LIFO (Last In, First Out)
Newest inventory sold first
Higher COGS in rising prices

FIFO Benefits

Realistic: Matches actual inventory flow
IFRS Compliant: Accepted internationally
Lower COGS: In inflationary periods
Higher Profits: Better financial ratios
Inventory Value: Reflects current costs

Quick Examples

Basic FIFO Example
100 units @ $10, 50 @ $12
Sell 120 units
Multiple Purchases
Rising cost scenario
Complex inventory flow
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How to Use

  1. Enter beginning inventory units and cost
  2. Add all purchases with dates, units, and costs
  3. Input total units sold during the period
  4. Select your currency preference
  5. Calculate to see FIFO results
  6. Review cost of goods sold and ending inventory

FIFO Applications

Perishable Goods

Food, pharmaceuticals, and time-sensitive products.

Financial Reporting

IFRS compliance and accurate financial statements.

Inventory Management

Warehouse operations and stock rotation.