I elected to be taxed as an S-corp on 1/1/21. Prior to that, I was a sole prop. I wanted things clean so I created a new QB Desktop file and am going back and deleting everything prior to 1/1/21. So all the data only pertains to the s-corp. If needed, I have the other QB file for all previous sales/data as a sole prop.

I'm trying to figure out how to get all of my inventory and its avg cost as of 12/31/20 into my new QB file so the current inventory (1/6/22) accounts for that starting point. I would think the avg cost for all of my inventory, that value, would be applied to my equity in the business.