Explanation
Box 1: Adjustment journal
Inventory adjustment
When you use an inventory adjustment journal, you can add cost to an item when you add inventory. The additional cost is automatically posted to a specific general ledger account, based on the setup of the item group posting profile. Use this inventory journal type to update gains and losses to inventory quantities when the item should keep its default general ledger offset account. When you post an inventory adjustment journal, an inventory receipt or issue is posted, the inventory values are changed, and ledger transactions are created.
Box 2: Counting journal
Counting journals let you correct the current on-hand inventory that is registered for items or groups of items, and then post the actual physical count, so that you can make the adjustments that are required to reconcile the differences.
Reference: https://docs.microsoft.com/en-us/dynamics365/supply-chain/inventory/inventory-journals

Explanation
School of Fine Art agrees to purchase a new line of smartboards from a vendor. The agreed-upon smartboard purchase prices will have a cost price per 55-inch, 75-inch, or 85-inch.
Predefined product variants
Example scenario: Create predefined product variants
This example scenario shows how to create product variants for a product master using a combinations of product dimensions.
Step 1: Create a product master
Step 2: Add product dimensions
Step 3: Generate product variants
To generate product variants:
* With your new product master still open, select Product variants on the Action Pane.
* Select Variant suggestions on the Action Pane.
* The system generates a list with all possible combinations of the sizes and colors you defined for the product. Select Select all on the toolbar.
* In this example, select all of the possible variants. If you only want to use a subset of the possible product dimension combinations, select only the required check boxes as needed.
* Select Create.
* Select Save.
Reference:
https://learn.microsoft.com/en-us/dynamics365/supply-chain/pim/tasks/create-predefined-product-variants

Explanation