Changing Your Costing Method

If you have inventory and you want change your costing method, you can't automatically apply LIFO or FIFO costing to your current inventory.

To change your costing method:

1. Adjust each existing inventory item to zero to manually close it.

2. Set the item record to inactive.

3. Recreate the item record with the correct opening balance.

   All new inventory items you create automatically use your new costing method.

Related Topics

• Inventory Reporting After Changing the Costing Method
• Setting a Default Inventory Costing Method
• Costing Methods

General Notices