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Hey @mrylnd
I've been where you are...many times.
Like most things accounting there is no easy or "right" answer but this should "cure-all" inventory issues
Short answer is "NO" do not mess with your starting values (plus you can't delete/void them) if you have finished/closed any fiscal periods. Simply because it's much harder to fix than and 'unspin' the changes you need to make than the below which focuses all adjustments into one date in quickbooks keeping the changes obvious.
[Using a transaction date of Jan 1st can make it very simple to monitor the changes to your Profit & Loss and Balance sheet reports]
-Determined what our Inventory "should be"
-Removed the "Trash" from QBO
-Kept our Inventory Balance sheet $ integrity in tact !
I hope this has helped, but I do acknowledge that managing Inventory in Quickbooks online can be tricky unless you are very experienced like we are. If you need follow-up feel free to reach out or reply to this message.
-Richard
MCBB - Bookkeeping and Business Services-ps I wrote this answer without checking QBO too much so I may have glossed over some parts, let me know and I will update the answer, either way a thumbs up would be nice thanks
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