Average cost is not displaying any value on the Sales by Item Summary Report. When you look at the item record there is an average cost.
Check if Multi-Location Inventory feature is enabled. If yes, then a value should be set on the Preferred Location field on the item record to be able to pull up the average cost in the Sales by Item Summary Report.
To fix this issue, you may vouch individually the affected Invoice record having a blank Average cost and retoggle the Cost column on the Item tab.
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