In this guide I want to explore the mechanics of FIFO inventory costing with QuickBooks Online. 

Let’s say you run a store called, “Gotham Tactical Supplies” where among other things, you sell the following products:

• Bat-Gadgets
• Vibranium Shields
• Arc Reactors...

This article was inspired by a twitter thread I saw about a CPA who gave advice on how you can deduct your family trip to the Pumpkin Patch.

What happened next was hilarious..

View it on Twitter and check for the hashtag #Pumpkingate:

Say you don’t know how “ordinary and...