FIFO Inventory - Price Changes Not Accurately Reflected in COGS

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Hi everyone. I have run into the issue of not being able to have different prices for the same variants for products in shopify and our cost of goods sold is not accurately reflecting what we paid for our items after price increases or decreases.


The problem outline is that when I change a price from a vendor price increase (we are having a lot of these due to tariffs), the cost of that item is changed for everything currently stocked even though we bought the current stock at a different price. I need to know if Shopify has a solution for this coming by the end of 2020 or I will need to go to another platform because this is unintentionally creating fraudulent data that under-represents our profit. Very important and I feel like other people probably have this problem too. What have you guys been able to do about this?


We use quickbooks but don't have our inventory prices stored there. Do we need to migrate our entire inventory to their system since it can handle keeping track of prices with the FIFO policy? Our product variants total about 3k products right now so a migration really stinks but the problem needs a fix. Thank you for any advice.