To view this report, from Merchandise, click Inventory report. The Merchandise Inventory page appears. In the Department field, select whether to include inventory items from all or specific departments or a selection of items based on a department query. In the Group by field, you can group the report results by groupings such as Category, Department, and Vendor. If you group the report by a specific grouping, you can also select the report type such as detailed or summary. To include inactive merchandise items in the report, select Include inactive. After you select the options, click View Report. The report displays information such as the item details, quantity, average cost, inventory value, and retail price.
It is important to note that this report is dynamic and will not provide a historical view of orders with balances due. To use this report accurately to record journal entries, the report must be run either at the end of the day on the last day of the month, or first thing the morning of the first day of the following month.