Inventory cost question for new company

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We are working with a new company owner that acquired a company which used BusinessWorks for many years.  

The agreement was the new owner would buy the inventory at cost.  However, in their sales agreement, the old owners agreed to lower the costs for the new buyer on primarily old parts, as the items may or may not be sold in the future.

For instance an item that originally cost $100.00 may be revalued at $50 since the item may or may not be sold.

The buyer's accountant set up an Excel spreadsheet with the agreed upon costs. When we imported the spreadsheet, the new costs were not exported to the correct place for inventory costs.

After some reports were reviewed, we noticed the updated costs were not imported correctly.  And now apparently we can't change the inventory costs after the initial import. 

Is there some way to reset cost for inventory items?

Any suggestions will be appreciated.