QB Online-can Inventory items costs be written down at year end by line item & maintained at the reduced value.

Hi there, @laurie57.

The only way to reduce the inventory value is to edit its cost in the Product and Services info window. By doing this, QuickBooks will use the updated one moving forward.

Here's how: 

1. Go to Sales from the sidebar menu and then Products and Services.
2. Locate the item you want to adjust, then select Edit from the Action column. 
3. Enter the desired cost. 
   
4. Click Save and Close to complete the process.

However, I recommend seeking professional advice from your accountant about this. They can help you properly handle this type of scenario. If you don't have one, you may visit our ProAdvisor site.

If you need to change the number of units in stock or mark them as non-sellable due to damage and other reasons, you may adjust stock quantity on hand. 

You can always come back to this thread if you have additional questions or concerns about inventory adjustments. The Community is always here for you, @laurie57.