Other
FIFO (First-In First-Out)
Also known as: FIFO, First In First Out
An inventory costing method where the oldest stock you bought is treated as the first sold. Each receipt becomes a dated cost layer, and every sale depletes the oldest layer first, so your COGS reflects what those specific units cost. FIFO is the most common and widely accepted method under both IFRS and US GAAP. Landara costs each Shopify order FIFO by default (moving average is also available).
Cost Category
FIFO (First-In First-Out) is classified as a Other charge in landed cost calculations.
Other charges include storage, packing, labeling, and miscellaneous service fees.
Related Keywords
fifofirst in first outcost layerinventory costingcosting method
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