The cost of items is not updated in the item list. We receive new items, but the cost shows the same in the list. IN the meanwhile cost calculations are correct

Let's investigate what's causing the cost of items not updated in the item list in QuickBooks Online (QBO), tarlan1.

It's possible you changed the item cost when creating or entering a transaction in QBO. This will not update in the item list as well. To automatically update it, we can change the cost of items on the Product and Services page. Let me guide you how:

1. Go to the Gear icon (⚙) on the top menu.
2. Select Products and Services.
3. Find the item you want to change.
4. Tap Edit in the Action column.
5. Update the Sales price/rate and Cost fields. 
6. Press Save and close once done.

To learn more about setting up product and service items you buy and sell, check out this article: Add product and service items to QuickBooks Online. Also, COGS tracks all of the costs associated with the inventory items you sell. This account helps you calculate gross profits accurately in the system.

The amount will only increase if you sell an item. You can do this by adding the product to your sales transactions in QuickBooks. For more information about First Out (FIFO), please refer to this article: What is FIFO and how is it used for inventory cost accounting?

Feel free to visit this article to see your best sellers, what’s on hand, the cost of goods, and more: Use reports to see your sales and inventory status.

Let me know if you have further questions about the cost of items or any inventory-related concerns. I'm still here to help you further. You have a good one.