QB Issue Resolution:

when you adjust inventory qty down, then QBO debits shrinkage and credits inventory, if you adjust inventory up to zero from a negative, it is reversed, debit inventory and credit shrinkage – this assumes you have a cost entered on the item screen in QBO

deleting the inventory item is final, you can not undelete it like you can accounts. If you delete it, that does NOT make the value or the qty on hand go away, nor does it change historical transaction already in the account

Resolution for Issue 'MY INVENTORY REPORT SHOWS A NEGATIVE VALUE WHEN THE QUANTITY IS EITHER ZERO OR POSITIVE I.E. QUANTITY ZERO, VALUE -$48.00. HOW DO I GET THE -$48.00 OUT OF THE SYSTEM?' available: Yes (Solved).
Source: Intuit Community forum.

MY INVENTORY REPORT SHOWS A NEGATIVE VALUE WHEN THE QUANTITY IS EITHER ZERO OR POSITIVE I.E. QUANTITY ZERO, VALUE -$48.00. HOW DO I GET THE -$48.00 OUT OF THE SYSTEM?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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