Problem:
Average cost is all wrong because of data entry errors.
Solution:
If you want to reset the costing for all of your inventory, the simplest method is to remove all of your stock, adjust the iv10200 table to set the qtyonhnd to 0 for the last record, then adjust everything back in at the proper cost.
http://support.microsoft.com/kb/2706556
If you kno wthe exact problem, or the exact cost layer that's causing the bad average calculation, just modify the cost layer by going to
Tools>Utilities>Inventory>Adjust Costs
This will adjust the specific cost layer, and post the differences to the GL.
If the price still does not look correct, run an inventory reconcile on the item to have it recalculate the average cost.
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