I think this is what you are looking for:
You have already made the pivot, you just need to aggregate the result of the pivot table accordingly.
Assumption: Grouping by ItemNmbr,ITEMDESC,EXTDCOST,Loc1,Loc2,HUB,INLAND,Loc,[OLD
Loc],[IN TRANSIT]
SELECT ItemNmbr ,
ITEMDESC ,
QtyOnOrder=SUM(QtyOnOrder) ,
QtyBackordered=SUM(QtyBackordered) ,
TotalInventory=SUM(TotalInventory) ,
EXTDCOST,
InventoryValue = SUM(InventoryValue) ,
Loc1,
Loc2,
HUB,
INLAND,
Loc,
[OLD Loc],
[IN TRANSIT]
FROM ( SELECT DISTINCT ItemNmbr ,
ITEMDESC ,
Location ,
QtyOnhand ,
QtyOnOrder ,
QtyBackordered ,
TotalInventory ,
EXTDCOST ,
InventoryValue
FROM #ssrsFinal
) AS p PIVOT
(SUM(QTYOnHand) FOR Location IN ( Loc1, Loc2, HUB, INLAND, Loc, [OLD Loc],[IN TRANSIT] )
) AS pvt
GROUP BY ItemNmbr ,
ITEMDESC ,
EXTDCOST,
Loc1,
Loc2,
HUB,
INLAND,
Loc,
[OLD Loc],
[IN TRANSIT] ;
In Response to the comment:
Sample data set:
CREATE TABLE #ssrsFinal (ItemNmbr VARCHAR(10),
ITEMDESC VARCHAR(100),
Location VARCHAR(10),
QtyOnhand INT,
QtyOnOrder INT,
QtyBackordered INT,
TotalInventory INT,
EXTDCOST DECIMAL(20,5),
InventoryValue DECIMAL(20,2))
INSERT INTO #ssrsFinal
VALUES
('94185BJGD','SS MESH ROAST PAN, 2X GRILL CLAWS, STAM HNDL, GD','Something',0,0,0,0,14.18000,0),
('94185BJGD','SS MESH ROAST PAN, 2X GRILL CLAWS, STAM HNDL, GD','Something',0,0,0,0,14.18000,0),
('94185BJGD','SS MESH ROAST PAN, 2X GRILL CLAWS, STAM HNDL, GD','Something',3,0,0,3,14.18000,42.54)

In response to the comment "...insert values instead of "something" for location try adding a different location from the examples and then run your query again, it will pull back two rows. I tried INLAND, HUB, and LOC.":
SELECT ItemNmbr ,
ITEMDESC ,
QtyOnOrder=SUM(QtyOnOrder) ,
QtyBackordered=SUM(QtyBackordered) ,
TotalInventory=SUM(TotalInventory) ,
EXTDCOST,
InventoryValue = SUM(InventoryValue) ,
Loc1=SUM(Loc1),
Loc2=SUM(Loc2),
HUB=SUM(HUB),
INLAND=SUM(INLAND),
Loc=SUM(Loc),
[OLD Loc]=SUM([OLD Loc]),
[IN TRANSIT]=SUM([IN TRANSIT])
FROM ( SELECT DISTINCT ItemNmbr ,
ITEMDESC ,
Location ,
QtyOnhand ,
QtyOnOrder ,
QtyBackordered ,
TotalInventory ,
EXTDCOST ,
InventoryValue
FROM #ssrsFinal
) AS p PIVOT
(SUM(QTYOnHand) FOR Location IN ( Loc1, Loc2, HUB, INLAND, Loc, [OLD Loc],[IN TRANSIT] )
) AS pvt
GROUP BY ItemNmbr ,
ITEMDESC ,
EXTDCOST ;
Results:

InventoryValue.