{Qty Shipped not Cost}(ed) is the total quantity of the item in OrderEntry that have not yet been processed by Day end (and costed). You should run a data integrity in Inventory and OrderEntry to check to make sure the number is accurate. The costing tab in Inventory includes this number in the Quantity on hand, will display a different number in the FIFO/LIFO buckets if day end has not yet been run in OrderEntry. This screen shot is from the Adagio sample data:
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