I want to adjust the quantity and price of newly purchased stock of an inventory item? i want to sell at new price of the new stock?

Good day, Taiwo. When you receive new stock at a different price, there's no need for you to adjust the quantity through a separate adjustment entry.

Instead of a manual adjustment, you can record the purchase from your vendor as a Bill. This tells QuickBooks exactly how many units you bought, and it will update the Quantity on hand automatically.

Once the quantity is updated, you'll need to go to the Products & Services page to update the pricing for future transactions.

Additionally, you may visit this article on running a report for your sales and inventory status.

If you have more concerns related to QuickBooks, don't hesitate to reply. We're here to help.