i think that all initial things related to the start date(did you used the “start date”?), they are ignored
You can only have an Avg Cost if there is a quantity under Qty Owned.
Only the first item has a qty owned value.
What mistake, the starting balances looks ok.
My comment is unrelated to your quantities issues, @Savannah_2017. But inventory item DAM01 is not an inventory item. It looks like a service or an adjustment. Only physical goods should be inventory items. If you need to adjust inventory due to damage, use an inventory write-off.
Click on the blue  of item [CHA4]. Then you will see a listing.
Can you make a screenshot of this listing? Maybe it will tell us why [Qty owned[ is .