Year end was October 31, 2008 and we performed a count. I went through the procedure to do the count actually on November 2, 2008 and of course the system was set for oct 31, 2008. we have a handful of modules, OE, IC, CQ, SA, GV, GL, AR and AP (just in case having that info makes a difference in your answer.

here is the question....i printed off the item valuation report after the inventory was done....it was the value of the print out before less the variance....it made sense.

There were some items on that list that did not have any values. We use moving average method to value our inventory. Today when i print out the item valuation for october 31, 2008 it doesn't look the same and there are average values for these items.

You see we found out at year end by the accountant that one item was input in wrong at the count date and now i need to adjust. i was going to adjust the item as of nov 1st since i haven't closed november off.

why did this report change? and how do i know how this will affect the inventory, this change, and the bottom line. i have 2000 inventory items and this just all seems confusing.

thanks
Laura