Use this article to find the Costing report in the Inventory Hub and read its FIFO, LIFO and weighted-average unit costs and stock totals. Because every receipt is stored as a cost layer, Shop+ can tell you what your stock is worth under different accounting methods.
Where do I find Reports in the Inventory Hub?
In the Inventory Hub click Reports in the sidebar. The report tabs include Analytics, Vendors, Costing, Inventory and Scheduled.
How do I read the Costing tab?
In Reports, click the Costing tab. The report explains itself at the top: each receipt is a cost layer, and the table compares valuations under FIFO (first in, first out), LIFO (last in, first out) and weighted average, including landed-cost overhead.
For each product the Costing table shows the number of layers and their date range, the units on hand, the FIFO unit cost (first in, first out), the LIFO unit cost (last in, first out), the WAvg unit cost (weighted average) and the WAvg total value of the stock on hand.
In the example row, 12 units held in two layers (10 at $4.00 and 2 at $5.00) give a weighted-average unit cost of $4.17 and a total value of $50.00. Click Refresh after receiving or adjusting stock to update the figures.