Costing methods are set up on the General tab of the Maintain Inventory Items window. Sage 50 has four different types of cost methods for inventory:
LIFO (last in, first out)
FIFO (first in, first out)
Specific Unit(Sage 50 Premium Accounting and higher)
Generally, all inventory items need to use the same costing method. Check with your accountant about the implications of doing this before you make any changes.
Creative uses for inventory items
How does Sage 50 handle costing?