FIFO Inventory Calculator
Enter your inventory purchase lots and sales quantities to calculate COGS and ending inventory value using the FIFO accounting method.
Use the FIFO Inventory Calculator
Purchase Lots
Enter the total number of units sold during the period.
Add purchase lots and units sold, then click Calculate.
Cost of Goods Sold (COGS)
$0.00
0 units sold
Ending Inventory Value
$0.00
0 units remaining
Total Units Purchased
0
Total Purchase Cost
$0.00
Avg. Cost / Unit
$0.00
COGS Breakdown by Lot (FIFO Order)
| Lot | Cost/Unit | Qty Available | Qty Sold | COGS |
|---|
Remaining Inventory by Lot
| Lot | Cost/Unit | Units Remaining | Value |
|---|
Summary
The FIFO (First-In, First-Out) inventory method assumes that the oldest units purchased are the first ones sold. This calculator lets you input multiple purchase lots with different costs and quantities, then specify how many units were sold, and it automatically walks through each lot in order to compute your cost of goods sold and the value of remaining inventory.
How it works
- Add one or more purchase lots by entering the date, quantity bought, and unit cost.
- Enter the total number of units sold during the period.
- Click Calculate to run the FIFO algorithm.
- The tool exhausts the earliest lots first, computing COGS layer by layer.
- View the COGS breakdown, ending inventory value, and remaining lot detail.
Use cases
- Small business owners calculating cost of goods sold for tax or accounting purposes.
- Accountants verifying FIFO inventory valuations for financial statements.
- Students learning how FIFO differs from LIFO or weighted-average costing.
- E-commerce sellers tracking profitability across multiple purchase batches.
- Retailers performing period-end inventory reconciliation.
- Manufacturers valuing raw material usage under FIFO assumptions.