My report for sales this month in quickbooks is showing a loss on one item because the cost on the inventory? -

list was not adjusted. How can I change the cost of an item so that it modifies the report and shows profit? I would have to change the cost of the item starting September 09. Please help. Thanks.

you need to identify the product whose cost is inflated. go to that product purchase entry and check with the invoices. if it differs from the invoice amount then pass a rectification entry in the accounts Likesuppose unit price for the product is $1.25 and qty is 100 then you have purchase bill for $125 but if you made mistake and entered unit price as 1.52 then total would be 152.Now reverse the entry with (152 - 125 ) = $27Debit the Supplier Account (with the amount of inflation) $27Credit The Stock/Inventory $27