Portion of Inventoried Product Used by Company

The following is the best way to get the portion the company uses out of inventory and expensed to the appropriate account.

Add your company as a customer and invoice this "customer" for the product at cost. At the payment on account screen, discount the amount of the invoice to the appropriate expense account. If you always want to invoice your company at cost, you could setup the default pricing for that customer to be the cost you wish to use.