Free tools
FIFO stock calculator
Your cost of goods sold and the value of your stock at year end, first in, first out.
- Method
- First in, first out
- Results
- COGS, closing stock
- Price
- Free, no sign-up
Cost of goods sold
£530.00
- Total bought
- £926.00
- Cost of goods sold (FIFO)
- £530.00
- Closing stock (13 units)
- £396.00
Fees and postage are separate costs: add them to your expenses, not to stock. Not accounting advice.
Retailed keeps every purchase and sale, so your stock value is ready at year end.
Start freeWhat is FIFO stock valuation?
First in, first out: you assume the first items you bought are the first you sold. Your cost of goods sold uses the oldest purchase prices, and the stock left at year end is valued at the most recent ones.
Does closing stock matter for my tax return?
It depends on how you work out your profit. With traditional accounting, and in a limited company, your profit is sales minus the cost of the items you actually sold, so stock left at year end must be valued and kept out of this year’s costs. Most UK sole traders use cash basis, the default since April 2024: stock counts as a cost when you pay for it, so closing stock doesn’t change your taxable profit. It still shows your real profit.
Can I use another method?
FIFO and average cost are the usual methods for small resellers. Pick one and keep it from year to year. Ask an accountant if you are unsure which one fits your business.
Your stock, always valued
Retailed tracks what you bought, what you sold and what is left, item by item.