Yes - I we look at
http://www.accounting-basics-for-students.com/fifo-method.html
 3 methods are decribed
IMHO FIFO and LIFO are  not supported by standard OpenERP as for this we would 
need to check the purchase price and quantity - and the price was not part of 
the stock moves till 6.1 I think.

OpenERP supports 2 pricing methods
* standard price
* average price
and 3 accounting methods
* continental (standard)
* anglo saxon - which needs some already published bugreports + patches

may be I missed some modules

from current trunk
./openobject-addons/stock/__openerp__.py:33:    * Different inventory methods 
(FIFO, LIFO, ...)
./openobject-addons/stock/stock.py:156:         # temporarily removed, as it's 
unused: 'allocation_method': fields.selection([('fifo', 'FIFO'), ('lifo', 
'LIFO'), ('nearest', 'Nearest')], 'Allocation Method', required=True),

BTW average price may need to some tests and extensions as I do not know yet 
how to handle revaluation of goods together with real time accounting
these obviously need moves with qty=0 and value = +/- value correction

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https://bugs.launchpad.net/bugs/922077

Title:
  anglo saxon - must handle product price diff between purchase and
  invoice

Status in OpenERP Addons (modules):
  Incomplete

Bug description:
  very often the purchase order price is an indication, but the "real"
  (day) price is different

  using anglo saxon method this  difference must result in a account
  move line to balance the input account

  patch will follow

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