iOS 13.1.2 update will cause the payment and printing integrations on iPad not to work. We are working on an update but in the meantime please do not update to iOS 13.1.2 on your devices that are running Erply POS.

 

OS Catalina update will cause EPSI not to work properly. We are currently working on an update but in the meantime, please do not update to OS Catalina on your devices running Erply POS

What is FIFO Splash 01

What is FIFO?

What Is FIFO Inventory Costing and Why Use It?

In order to run any retail business properly, business owners need to know the cost of their inventory for:

  • Big tax deductions
  • Improving ordering strategies.

Calculating your inventory cost can be done in several ways, but one of the most common methods is called FIFO, which stands for “first in, first out”. This method differs from LIFO (“last in, first out”) and average cost, two other methods that the IRS also accepts for inventory cost reporting.

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Get started with FIFO using Erply