Download FIFO Inventory Management Sheet in Excel

In this article, you will learn how to download and use the FIFO inventory management sheet in Excel. FIFO inventory management system is very useful for ensuring the products having earliest expiry dates are supplied early to ensure no products will go expire in the warehouse.

Structure of FIFO Inventory Management Template

This Excel template has 6 sheets.

Purchase Entry: Enter the purchase details of inventory (product name, purchase date, quantity, batch number and expiry date)
Purchase Report: This sheet gets automatically updated when you submit the purchase entry records.
Stock Balance: This sheet will auto update based on the purchase and sales transactions.
Sales Report: This sheet will get automatically updated when the invoice is supplied.
Invoice Processing: This sheet is used for processing the invoice of customer where you can know which batch and expiry dated product to supply to customer maintaining the FIFO system.
Support Data: This sheet contains the list of products, suppliers and customers.

Benefits of FIFO Inventory Management

Below are the key benefits of tracking inventory in FIFO method.

Reduces Wastage & Obsolescence – Prevents expired or outdated stock, ideal for perishable goods.
Better Cash Flow Management – Keeps inventory moving, preventing idle stock losses.
Helps Maintain Quality Control – Ensures customers receive fresher, high-quality products.
Simplifies Stock Valuation – Provides stable inventory valuation, especially in inflation.
Reduces Storage Costs – Prevents overstocking and high holding costs.

Guideline on Using the Template

This Excel template will be downloaded in compressed zipped folder because it is a Macro Enabled (VBA) Excel Template file. After downloading, extract the file from zipped folder by Right Click and Extract All.
Once you start entering the data in the template, when you save it, it will suggest you to save as a copy with a new name of the file. The original template remains unchanged. Your data will be saved in the copy of the template.