Average Cost
As near as I can tell QB has used averaged cost since its’ inception. There is no way to change average cost with out some major hurdles that I won’t get into because they involve too many steps and are prone to errors. I have messed with this trying to get it to work for some time and there is just no easy way.
It makes no sense to me why QB refuses to implement FIFO or specific cost, even though as QB once told me “FIFO has long been a request of QB users.”
When you consider that QB is made by Intuit, who also makes Quicken, and Quicken does Specific Cost really well (Stock Portfolios) you would think that the two divisions would talk to each other and share programming code and at least implement specific cost in QB.
But like most large corporations one department doesn’t seem to talk to another. Must be the “I can secure my job if I can do what others can’t, so don’t share” theory of job security.
The secret programming aspects don’t stop with cost though, Quicken can pack the data base, Quicken can archive past years data and reduce the file size - none of which QB can do.
If FIFO, LIFO or specific cost is important, all of QB’s competitors do one or more of them.
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