Can we have an Inventory Valuation Account of an Inventory Item to be an Expense Account Using SLA

The Case is as Follows

there is a Product that is Produced through OPM Batch within our Client's Plant, but this Product is Owned by another Party, so they need the Inventory Valuation Account for This Item to be an Expense Account and they need to track the Quantity of this Item and they need to be able to ship this Item on Sales Order, where it hits the same Expense Account as the COGS Account, Hence the Sales Order Shipping Transaction has Zero Financial Effect.

Also this Item Product Could be an Ingredient in Another Production Batch of Another Product that has the same Nature of Its Ingredient Item.