That's correct, a journal entry will adjust the total inventory value in your accounting records, but not the unit cost or value of individual products in your inventory, Dawn.

As my colleague pointed out, QuickBooks utilizes a FIFO (First In, First Out) method for inventory management. Given your specific inquiry about correcting unit cost or value of individual products, I strongly recommend consulting with your accountant. They can provide tailored advice and suggest alternative approaches that align better with your particular business needs, ensuring precise adjustments in your inventory system.

For a comprehensive guide on adjusting inventory quantities in QuickBooks Online, please visit the following link for detailed instructions: Adjust inventory quantity on hand in QuickBooks Online.

Additionally, click on impacts of inventory tracking on the Balance Sheet and Profit & Loss reports in QuickBooks Online to learn how it can affect your financial reports.

Should you encounter any issues or have more queries about managing inventories, please add them in the comments. I’m here to provide further assistance.