Your world is always changing, now your part's costs can too. You buy parts, often at different prices and at different times - now Fleetio tracks those cohorts of parts at a set price, and consumes them according to your chosen usage methodology. 

• LIFO: Last-In First-Out, assumes that the last or most-recent unit to arrive in inventory is sold or used first, with the older inventory left over at the end of the accounting period. 
• FIFO: First-In First-Out, assumes that the first unit making its way into inventory, or the oldest inventory, is sold or used first. 

Make your inventory valuation method selection on the account settings page. Learn more in the Help Center.