{"id":36719,"date":"2026-02-02T15:51:39","date_gmt":"2026-02-02T13:51:39","guid":{"rendered":"https:\/\/rackbeat.com\/?post_type=product_features&#038;p=36719"},"modified":"2026-02-02T15:51:39","modified_gmt":"2026-02-02T13:51:39","slug":"cost-price-principle-fifo","status":"publish","type":"product_features","link":"https:\/\/rackbeat.com\/en\/product_features\/cost-price-principle-fifo\/","title":{"rendered":"Cost Price Principle: FIFO"},"content":{"rendered":"","protected":false},"featured_media":20317,"template":"","meta":{"content-type":"","inline_featured_image":false},"product_features-cat":[233],"class_list":["post-36719","product_features","type-product_features","status-publish","has-post-thumbnail","hentry","product_features-cat-premium-subscription"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cost Price Principle: FIFO | Rackbeat<\/title>\n<meta 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are calculated based on the actual purchase prices\u2014where the oldest items leave inventory first. This gives you a more accurate view of product consumption and profit margins, especially when purchase prices fluctuate.<\/p>\n<p>&nbsp;<\/p>\n<p>FIFO is a great choice if you want more precision in your calculations and want to follow changes in cost prices more closely. However, the method requires more structure and data discipline in your stock movements to get the most out of the principle.<\/p>\n","button_text":"","button_url":""},{"acf_fc_layout":"cta_section","cta_image":"https:\/\/rackbeat.com\/wp-content\/uploads\/2025\/04\/Grafik-Box-Frontpage-Norsk-1.png","cta_content":"<h3 data-start=\"840\" data-end=\"1273\"><strong data-start=\"840\" data-end=\"954\">FIFO calculates inventory value based on the idea that the first items purchased are also the first items sold<\/strong><\/h3>\n<p data-start=\"840\" data-end=\"1273\">With <strong data-start=\"960\" data-end=\"998\">Cost Price Principle: Average Cost<\/strong>, your inventory value is calculated based on the average purchase price of the items you\u2019ve bought. If you choose <strong data-start=\"1113\" data-end=\"1143\">FIFO (First In, First Out)<\/strong> instead, your inventory value is calculated based on the principle that your first purchased items are also the first to be sold.<\/p>\n<p data-start=\"1275\" data-end=\"1501\">We recommend speaking with an accountant or bookkeeper before setting up your Rackbeat account. You need to choose a cost price principle during the initial setup of your Rackbeat agreement\u2014and it cannot be changed afterwards.<\/p>\n<p data-start=\"1503\" data-end=\"1724\">If you want to use <strong data-start=\"1522\" data-end=\"1552\">Cost Price Principle: FIFO<\/strong>, you\u2019ll need our <strong data-start=\"1570\" data-end=\"1581\">Premium<\/strong> subscription. 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