Will changing the starting value change all past cost of goods entries? I want to value to reduced on the stock on hand as of 3/15/21.
For example let's say that I want to change 387,360 Part1200s from a value of $874684.80 to $437342.40 as of March 16th without effecting 2020 or the financials from 1/1/21-3/15/21. Do your steps work?
I am the accountant so I'm prepared to make journal entries is needed but will I have to update all of 2020 when there were 1000s of sales of PPE?
Thank you,
Liz
