We appreciate your return to this discussion, @m_seale.
In QuickBooks Online, the FIFO option is available. The software will always regard the initial purchase (First In) as the initial sale (First Out). Every time sales of inventory items are recorded, this will adjust your assets and Cost of Goods Sold (COGS) accordingly.
You can also read this piece for additional information: What is FIFO, and how is it used for inventory cost accounting? It also includes an idea of how to modify the cost and initial quantity of an item.
To help you monitor and manage inventory in QuickBooks, I've gathered a few articles that you can read through:
If you have any questions regarding FIFO in QBO, please let me know. I'll always be available to assist. Have a great day!
