InventSum Closed and ClosedQty

The closedQty flag informs that all quantities for given inventory item and inventory dimension set to zero. No item in stock, no item in process of receiving/shipping, also item is not expected to be sold/purchased/produced. The closed flag informs that the monetary balance for given item and inventory dimension is zero. Basically it means that all the costs related to given item was written-of from inventory account to COGS/WIP etc. Usually, the closed flag is set by inventory closing. (But in simple cases it can be set immediately during posting of inventory issue)