How to change an Inventory Item to a different Inventory Group

How to move an Inventory Item to a different / new Inventory Group, this process will keep the existing Inventory Item Code. 

If the Inventory Item Code needs to be updated follow the process of deactivating the existing item then uploading a new Inventory Item to the required Inventory Group.

Settings → Inventory Items → Search for the required Inventory Item → Open the Inventory Item 

→ Edit Details

→ Select the Inventory group from the drop down 

→ Save