Is there a report to review item cost changes?

Summary:

We are looking for a report that can be used to identify significant changes to an item's cost. Does one exist? For example a PO had the wrong price ($10,000 and should have been $1,000) and a receipt is performed. A cycle count then occurred and qty onhand was increased for our item and now the inventory cost is inflated because the the average cost of the item is incorrect and has changed considerably. We need to be able to identify this change and correct it before it's an issue at month end. I know we can use the cost