Use FIFO (First in, first out) and cash basis method for keeping track of cost of goods.
The current method of cost of goods in Woocommerce is not properly done. In fact, it's completely useless.
When you operate with inventory, you constantly buy products wholesale at different prices. For example, we may buy 1,000 cups in january at $5 a piece and the next month 1,000 cups at $6 a piece. How exactly would one go about getting woo commerce calculating the average cost of goods?
Sure, you can re-calculate the average cost yourself and enter in the new COG on the product page, but it will update all previous sales as well with this new COG. Therefore rendering all reports useless.
I'm surprised this hasn't been taken into consideration when COGs were initially introduced.
I'd like an answer to this as well. Or do we just denegrate to ABC?
Alexey Selin commented
I am voting up for this feature too!
I need that solution. I created store and now can't sell because my store do cant use FIFO method (EU country)