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To set up a new item in Jonah's beverage inventory system for kegs and bottles, you will need two SKUs for each item - one for the bottle or keg, and another for the shot, glass, or pint. Start by going to club inventory files and choose your club and area to set up SKUs. Enter the SKU number for the bottle or keg, add the name with "bottle," assign a category, and enter the cost. Make sure to repeat the process for the shot, glass, or pint SKU. This will help you accurately track and manage your inventory for different drink items.