how inventory opining balance calculated in netsuite

AI generated answer (using internal Slack threads):

In NetSuite, the opening inventory balance is calculated based on the inventory items you have at the start of your fiscal year. This includes the quantity of each item and the cost associated with it. If you find that your beginning inventory balance is off, it could be due to several reasons. One common reason is that some serialized inventory items were not included in the initial balance. To correct this, you can consider making an Inventory Adjustment. This will allow you to add the missing items to your inventory without affecting your payables accounts. The inventory value in NetSuite is composed of the FOB price, duty, and freight (landed costs). If you need to recalculate the average cost/unit and inventory value per FOB price, duty landed costs, and freight landed costs separately, you might need to export the raw data and do the calculations outside of NetSuite, such as in Excel or SuiteQL. In some cases, you might want to recognize the inventory at all times, even momentarily. For example, if there's a significant lag between purchasing and shipping the item to the customer, you might want to recognize the inventory during this period. This can impact your balance sheet and income statement, as well as your financial ratios. Unfortunately, the Dropship feature in NetSuite does not allow this. However, you can use the Special Order link as a workaround. This will require you to receive the PO so the items can be fulfilled/shipped. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******