what is actually reported in the Inventory Valuation report?

Hi Su, 

Thank you for your query,

The Inventory Valuation Reports in the solution are used to see the inventory counts that have or have not yet been put in by users or, if rollover, what the system has calculated the current amount on-hand.  For more details please refer to these articles: https://fc.force.com/customer/s/article/Purchasing-Inventory-Inventory-Valuation-Current-Period-Report;https://fc.force.com/customer/s/article/Purchasing-Inventory-Inventory-Valuation-Historical-Report

Best,

Rene