Solved: How can I adjust inventory without changing COGS?
can add a bit more about the inventory management in QuickBooks Desktop and how it affects the Inventory Assets and COGS accounts.
When you set up the inventory item you have the option to enter the item Cost. Here’s how:
- Click the Lists menu.
- Choose Item List.
- Locate your inventory item and double-click it.
- Fill out the Cost field, under Purchase Information. Enter the cost of the item when you purchased it.