hi,
sure, inventory adjustment account is COGS (cost of sales) in P&L.
Some links:
support.microsoft.com/.../858776
www.mibuso.com/.../viewtopic.php
Inventory Adjustment Account in Navision 4.0 SP1
www.mibuso.com/.../viewtopic.php
www.dynamicsnavconsultant.com/.../inventory
www.navision-girl.com/.../expected-cost-posting-interim.html
COGS
www.dynamicsnavconsultant.com/.../how-to-calculate-cogs-on-account-schedules-the-cpa-way