Hello, bob1221.
I'll share additional information about the difference between the Physical Inventory Worksheet and Inventory Valuation Summary reports.
The Physical Inventory Worksheet gives you the actual availability of the items for sales. This report helps you keep track of your inventory count.
On the other hand, the Inventory Valuation Summary report will show the quantity on hand, the value, and the average cost for each product, including future orders. Since this report calculates inventory that incorporates future transactions, the number on hand wouldn't be the same as the Physical Inventory Worksheet.
For more information on these reports, see this article: Use reports to see your sales and inventory status.
In addition, I've included this resource to learn how to filter or change the layout of your report to see the details that matter the most to your business: Customize reports in QuickBooks Online.
Let me know if you have further questions about the inventory reports. I'm always here to help you.
