Use Sales Price / Rate to determine sales value of inventory

I can help you set up your items with their sales price, MarkJR.

When you create an item you have the option to enter the sales price or rate and the income account affected. We also have available reports where you can keep track of your sales with the correct data.

Let's turn on the inventory feature first to track your quantity and price/rate and inventory quantity on hand. 

1. Go to the Gear icon and click Accounts and settings.
2. From the left menu, click Sales.
3. Select the Products and services section and turn on the Track quantity and price/rate and Track inventory quantity on hand.
4. Click Save and then Done.

After that, we can start setting up your items with the correct details. I'll show you how:

1. From the Sales menu, click Product and Services.
2. At the upper-right, click New. Select the type.
3. Enter the details of the item and there are fields that need to be entered such as the Initial quantity on hand and the As of date.
4. In the Sales price/rate field, enter the current amount, and the Income account affected.
5. Enter the rest of the item details and then Save and close. 

To help you keep track of your inventory and sales, you can run and customize our reports.

I'm just here if there's anything else that you need help with. You take care and have a great day!

Thanks for the reply.  Already knew all that info.  Is there an answer to my original question?

Allow me to provide additional information about your question, MarkJR.

In QuickBooks Online, the system uses the weighted average cost to determine the value of your inventory. You can check out the Understand inventory assets and cost of goods sold tracking page for more details.

You can set price rules to control the sales price of your products and services. Simply turn on this feature to use the function, and I'm glad to show you how:

1. Go to Settings ⚙ and select Account and Settings or Company Settings.
2. Select the Sales tab.
3. In the Products and services section, select Edit ✏️.
4. Mark the Turn on price rules Beta box.
   
5. Select Save, then Done.

Once done, you can create a price rule and customize it. Please refer to this page for complete steps: Set price rules in QuickBooks Online.

Let me know if there's anything else you need, and I'm always right here to help.

Mary - appreciate your answer but still not hitting on my original question.  So, i'm going to repeat my original question, perhaps someone might be able to answer:

***I would like to take my on hand inventory and estimate its potential sales value***

I'm looking to take the units I have in inventory and multiply them by my Sales Price per each item (the sales price I entered when setting up the product in QBO). 

So as an example:

I have 10 units of XYZ. 

My sales price for that item (the price I entered in QBO for the item when setting up the product) is $20

So my potential sales is 10 x $20 = $200 for item XYZ.

I want to do that for all items I currently have in inventory

Is there a report or something that would do that in QBO or do I need to do that in excel for all my items?