Hi Cary,
Thanks for checking!
Here's something to try. Use the Item Inquiry function and open up an item. Go to the Quantities screen. This shows the quantities allowed at each location and the respective values.
We've seen data corruption in the ICILOC file cause problems with reports such as the Item Valuation. It was a different error than what you reported. PErhaps run a Data Integrity Check on your data, just to be sure.
See this previous posting here for more information.
Corrupt ICILOC data file