My avg cost is incorrect (or zero) for a few of my in-stock inventory items. How do I manually change the inventory cost to the correct amount? Using QB Online.

Hello there, brock@flarespace.

In QuickBooks Online, you can edit the previous adjustment to correct the detail of the item. Let's take a look at this step-by-step visual below to see how to go about changing your inventory cost:

1. Go to the Search icon.
2. Select Advanced Search.
3. Click the drop-down list for All Transactions, then select Inventory Quantity Adjustment.
4. Select the appropriate filters from the ▼ drop-down list, then select Search.
5. Look for the adjustment you need to change and click on it.
6. Change the Adjustment date and the Inventory adjustment account if necessary.
   • To add inventory items, enter the details in the New adjustments section.
   • To make changes to the previous adjustment, edit the details in the Previous adjustments section.
7. Enter a note of why you edited the adjustment in the Memo field.
8. Click Save and close.
   

For additional details, you can check these articles:

• Adjust Inventory Quantity On Hand In QuickBooks Online
• Edit An Inventory Quantity Adjustment

Another way is to make a journal entry to change the amount of COGS. When doing this in the program, I'd suggest reaching out to your accountant for additional advice. They can help you keep your financial statement accurate. 

If you have more questions, please let me know. I'll be around to assist you further. Take care and stay safe always.

Hi brock@flarespace,

Hope you’re doing great. I wanted to see how everything is going about correcting the inventory cost. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at anytime.

Looking forward to your reply. Have a pleasant day ahead!