I'm being asked to create an inventory valuation report that can do point in time QOH and value but using standard costing. I don't think this is possible, right? I am not an accounting expert, but I'm thinking I could maybe cobble together a report that pulls the current standard cost x QOH at the point in time at best. I would think that average costing at point of time would be more accurate than this. Pulling the cost of the correct cost version that corresponds to a report date would be...not possible, right?

Point-in-time standard costing isn't natively supported - NetSuite doesn't store historical standard cost versions with date ranges. Your best bet is current standard cost x historical QOH, but you're right that average costing would be more accurate for true point-in-time valuation. Custom solution would need extensive scripting to track cost changes over time.

We use standard costing and our balance sheet and inventory valuation report do not reconcile although we’ve already considered the journals, etc. Is it because the standard inventory valuation report does not support point-in-time valuation when costing method is standard costing?