Changing the Posting Group for a group of inventory items? Can several be done at once?

We have 422 items that we are going to move to a new posting group. I was reading about the modify and modify all function http://msdn.microsoft.com/en-us/library/dd338657(v=nav.70).aspx . 

Will this work to change the Gen. Prod. posting Group? I am trying to avoid changing each item one by one. I want to change them all at once and then make one G/L entry to correct the costing.