Can we change cost method in oracle fusion?

Summary:

Change cost method

Content (please ensure you mask any confidential information):

We are writing to inquire about the feasibility and process for changing our inventory cost method within Oracle Fusion.

Our current configuration uses the Average Cost method. Due to a strategic directive from our CFO, we are evaluating a change to the FIFO (First-In, First-Out) method.

The scale of our data is significant, involving:

Inventory Value: Approximately 1,000,000,000 (One Billion)

Open Purchase Orders: A substantial number of open POs are present.

Existing Inventory: A large quantity of on-hand stock.

Could you please provide detailed guidance on the following:

Is it possible to change the cost method from Average to FIFO for an organization with existing inventory