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Let me route you to the appropriate support that can pull up your reports in a safe and secure manner, fionchow.
As much as I want to assist you here promptly, I'm unable to access your account to view the Quantity on hand in products and services list and Inventory Valuation report as this is a public forum and we value your security. With this, I'd recommend contacting our live support team to help you track the data discrepancy. They can also create a ticket if necessary regarding this issue.
Here's how you can contact them:
Please ensure you check their support hours before reaching out to them to ensure they can address your concerns promptly.
I've added this resource to learn more about personalising your reports according to your needs in QBO: Customise reports in QuickBooks Online.
Let me know how else I can help you with reports by commenting below. I'm here to lend a helping hand. Keep safe always, fionchow.