The simple answer is NO, you can't create inventory lists for multiple locations in QuickBooks Online Plus plan or Advanced plan. It's a very basic buy/sell the same item inventory module in QBO and it's designed for one location only.
Creating a separate inventory list for different locations isn't possible. Though, you can use the class tracking feature and assign it to your inventory item as a workaround. Let me guide you how it works.
Click Gear.
Click Account and Settings.
Click Advanced. Then, click the Pencil icon under Categories.
Mark the box next to Track classes.
Click Save. Then, click Done.
Once done, you can pull up the Sales by Product/Service Detail report and filter it to view the class associated with your product/service items.
and in QBO you can not transfer a qty from one item to another and also transfer cost. So if you try to stock two items, you have to buy and sell each item even though they are the same
@ShiellaGraceA gave you an answer that does NOT address your question at all, the location tag she talks about is only for reporting.
The simple answer is NO, you can't create inventory lists for multiple locations in QuickBooks Online Plus plan or Advanced plan. It's a very basic buy/sell the same item inventory module in QBO and it's designed for one location only.