Dear @JessT 

Thank you for your message and such a relief for your explanations.

May I reconfirm with you that my previous procedures of stock-in is correct:

1. create product (SKU) in the master

2. create PO to supplier

3. copy PO to bill

4. paid the bill

If supplier changes the product price in future order, we just change the price in the PO.

Since QBO use FIFO approach, we can see the stock value details in stock value report, but in Product & Service Tab, the product cost will not be shown.

The calculation of COGS is automatic when we issue an invoice or sales memo.  We can view the transactions details in QBO standard or customised reports.  

Is the above assumption correct?

Kindly advise.  Thank you so much.

Regards,

Jacky C.