The Inventory Cost is different between the Inventory Profit Margin Report Sum, and the summary even though the Summary and the report are set in the same date frame (7 days). Summary is on accrual Basis, and Inventory - sales is the same in summary and in the report.
Without some screen shots of the data, it is not possible to give any help on this problem
Just stating a problem does not supply sufficient information to even begin a diagnosis never mind a solution
I have added screen shots
If you drill down on the total in the 31,457.76 in the summary screen you will see the details of the transactions making up the cost.
You can then drill down on the profit figures in the Inventory Summary Report to find out where the discrepancy occurs
If you have too many transactions, you could reduce the reporting period
Are any of the inventory items on your report manufactured by you?
Do you have any balance in an asset account named Production in progress?
Do you have any inventory kits?
No i only buy and sell Products, nothing in production.
Then you will need to trace average cost histories of individual inventory items. Begin by looking at whether there are any backordered items.
Before digging deep, I would first check if there was any entry to Inventory - cost that has no inventory items assigned.
Just drill down your summary and sort by Inventory Item and if there’s any discrepancy it should appear in the last page.
I found a similar situation where the P&L in the summary was from actual ‘average cost’ price, including freight, but a custom report would give me the purchase price I had entered into the inventory item set up.
I tried to change the periods into day by day period in reports and in summary, it turned out that there is a loss in one day (in summary only) which is affecting the profit in the whole period.
In this day there is a purchase invoice, i changed the purchase invoice date and the loss has moved with the purchase invoice, even though the inventory profit margin still match in sales total and doesn’t show any loss.
Problem was just solved, i found that one invoice was dated in 01-01-1 something like that, so it was not counted in sales but counted in inventory cost