Hello there, XL_Velo.

I appreciate you reaching out to us here in the Community with your concern about the Profit & Loss report.

For the shipping COGS, it will not be included in COGS with inventory product if the shipping is not included in the cost of the item.

You may also check on how to customize reports in QuickBooks Online to add some options that you want with your reports.

If you have any other questions about running reports, please don't hesitate to reach out. I'm always here to help.