AVERAGE COST

The only way to pull up specific parts on your report is to customize it according to your preference, Brita. I'm here to show you how and provide a better report that displays a breakdown of your data.

To achieve this, kindly search and open the Inventory Valuation Detail report. It provides a breakdown of items under the categories. Please know that retail value is not an available column in this report.

1. Go to the Reports menu and then Inventory.
2. Select Inventory Valuation Detail and modify the reporting period accordingly.
3. Click Customize report and make sure to add Item, Cost, and Avg Cost on the Columns field.
4. You can also select how your data are organized by setting the Sort by section according to your preference.
5. Once done, hit OK.

Still, if you want to review the retail value, this is only possible in the Inventory Valuation Summary report. However, once you double-click each category, retail value is unavailable as a column on its data, but their transactions are displayed.

You may also let QBDT store applied reporting data and detail alterations. It can help you save time once you need to pull up the same information in the future. Please review this link as your reference: Create, access, and modify memorized reports.

Drop by again on this thread if you have more questions about handling your reports and items or need assistance with other QuickBooks navigations. I'm always here to ensure you're taken care of.

HOW DO WE GET THE AVERAGE COST TO APPEAR ON THE SCREEN OF AN INVOICE?  SEE BELOW SCREEN SHOT OF OUR CURRENT ON SCREEN INVOICE THAT SHOWS COST. 

@Brita2 

You can't see the COGS for the items on the invoice screen, but you can click on 'Reports', then 'Transaction Journal'.  The COGS for the items is listed as a positive amount with an equal and offsetting amount shown a a reduction to your inventory asset value.    

Again, i was looking for a report that will show the average cost per item sold on invoice.  This is not a solution that you have provided.  The attached report is as you suggested but it does not show the average cost per item sold, just last cost!

@Brita2 

No need to use exclamation points.  I'm just trying to help - and for free BTW.  That is your average cost.  Last cost is your average cost if all the existing items were brought in at the same cost.  If you doubt it, run an Inventory Valuation Detail report and look at the average cost of that item on the last entry prior to creating the invoice.    

Is there a way to show quantity sold for each item on the invoice transaction journal report?

@Brita2 

Yes, click 'Customize Report' in the upper-left, under 'Columns', scroll down and select 'Qty'.

So, if we are trying to complete a sales order and then create an invoice from the sales order, how do we show the average cost on the sales order transaction journal? I only see the retail price.  Please see attached screen shot.