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What is the difference between the Inventory Cost Value Report and the Inventory Valuation Report?

This is the Inventory Cost Value Report (Actual true value of product) for ALL products.  This report does not use Weighted Average Cost (WAC).  The report may be run for each category, separately.  Freight costs may also be removed from the calculations.

The Inventory Valuation Report is used to match inventory values with Quick Books using WAC: