I have a questions about this topic also.  I'm helping a company reconcile their inventory according to their quantities and values for 2/28/2019.  Another worker entered end of the year adjustments (A LOT)  in December and January and it created values that are in the millions when should be thousands.  He only adjusted the quantity and I cannot fix it.  The balance sheet shows -$11M and inventory value should only be around $1.5M.   I want to correct January before moving into February, however, the adjustments are so far from where they should be, I don't know where to begin.  He originally used an inventory asset account and I corrected to COGS to remove them from the No Item section on the Transaction Detail section.  There are also several Journal Entries to Inventory Asset accounts that are incorrect.  Any suggestions?