We want to track the expense items in Inventory but don't want to book cost in Inventory Valuation.

Requirement is there is need to track the expense items in Inventory but don't want to book cost of those expense items in Inventory Valuation

basically these items will be treated as expense Items, so what are best practices available.

There are Items created with Destination type as Inventory, Items attributes such as Inventory Asset Value as Yes and costing Enabled as Yes,

An expense Category -Warehousing-Packaging Supplies is defined is associated with item at item level in Inventory Posting Catalog and Costing Catalog. - All this set at Item Master Level

Now In Manage Mapping Sets each item category has been assigned an account so This Expense category -Warehousing-Packaging Supplies has account number as 720704.