Right now we have two inventory items (call them SKU1 and SKU2) that are bundled together to make a customer facing product (SKU3). We did this because SKU1 used to be leveraged for multiple products, but that is no longer the case. Now I would like to make SKU1 and SKU2 inactive and turn the bundled item, SKU3, into a single inventory item.
Let's say that my current state is:
Bundle (SKU1+ SKU2)
My desire would be to keep the SKU3 number for the new Inventory item so that this is transparent to the customers.
Will there be any issues retiring the "Bundled SKU3" and creating an "Inventory SKU3" item? I'm assuming no since Bundled items are not "real".
How would I take care of the fact that SKU1 has 5 fewer units in stock than SKU2? Should I just purchase 5 more SKU1 before doing any consolidation or is there another way to handle it?
How would I transition the inventory for SKU1 and SKU2 the new "Inventory SKU3"? My initial thought is to:
Make the "Bundled SKU3" inactive
Buy 5 more SKU1
Create the "Inventory SKU3" with an initial inventory of 15 units
Make an inventory adjustment down to zero for SKU1 and SKU2
Make SKU1 and SKU2 inactive
Since all items are in the same COGS account, I do not think I would need to make a journal entry
Would it be better to sell all of the current inventory as we have been, then adopt the new system once that occurs?
I realize that there are probably multiple ways to do this, but I'm just looking for advice on how to approach it so I don't have an improper P&L.