Hi there! What is Cost of Sales Adjustment and how do I fix it? On my Item Receipts GL impact, I'm getting COGS account being hit and don't know why

It can be caused by negativ stock levels. It can at least be a first thing to look at

itr can also be caused by item transfers to different inventory locations with different cost basis. If someone goes in and backdates a receipt then the cost revises for all inventory movement after that...

Thank you for the response. I think you might be right. The cost of sales adjustment was on an item receipt created from a Transfer Order from our Warehouse location to another location. How do I check and compare the different cost basis for each location? I noticed the qty from the from location (Warehouse) has 0 qty so I believe that's also why it's hitting COGS?

I think on the stock status report might show the current average cost by location - or give you the details to calculate it. Let me know if that works

There is a setting in Setup_Accounting-accounting preferences that allows you to 'use item cost as transfer price' - this setting will keep the item value when transferring, etc. Sometimes people fill in a 'base price' which will then change the value of the item.

Is this the Current Inventory Snapshot?

The name is the "Stock Ledger". You can modify the report to sum total by location and filter by date and item to determine average cost for an item on a given date