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Level 1

Can someone help me correct an inventory error? I have one inventory item that is not calculating correctly when I run my inventory valuation report.

It is calculating the value from an old cost I used in invoices 2 years ago. The strange thing is that all the other inventory items are pulling the correct costs even though they had old costs from two years ago. It is just one item that isn't updating to the correct cost.
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Level 10

Can someone help me correct an inventory error? I have one inventory item that is not calculating correctly when I run my inventory valuation report.

@joan12 

It's hard to say why without reviewing the actual inventory valuation detail report for that specific item.

 

In QBO, it uses FIFO inventory accounting, is it possible you still have old inventory item in stock?

 

You can refer to this article for more information:

 

https://quickbooks.intuit.com/learn-support/en-us/manage-inventory/what-is-fifo-and-how-is-it-used-f...

 

Hope this helps!

 

 

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