Inventory Valuation report is showing Maintenance Assets value

We are receiving maintenance assets, such as forklifts, through PO receipts. We can see the asset in inventory and are able to create a record in Fixed Assets. The asset's value appears in the Inventory Valuation report, and its cost is reflected in Cost Management.
Is this intended functionality, considering we are calculating depreciation and retirement in Fixed Assets, with the information syncing back to Maintenance cloud.