We recently went through this exact, or a very similar, issue. Wife installed QB 2007 Premiere Retail edition, I am her site programmer.
The short answer is no, unless it's a solution offered by Intuit.
Longer answer: I know the description that follows is inherently different than your situation, but follow along to see how the way QuickBooks works would interefere with your plan.
I figured out how to export QB items from our website as IIF files and import them into a test company. I managed to import all her inventory items which presented us with two walls impossible to cross.
First is the inventory value. I properly exported the inventory values in the correct field, but when brought into QB the inventory values all read 0 (zero.) We discovered that in order to get an inventory value in QB, you must have invoices from vendors and sales receipts that correctly reflect increments in and out of QB.
That is to say - Quickbooks automatically increments the inventories based on the inventory you buy from vendors and sales receipts entered. You spend $XX on inventory from a vendor, it increments the inventory items. You make sales, it decrements the inventory. Even if you try to manually alter inventory on the item it warns you, and uses the inventory value you enter to change the sales and expenses charts. It's insane!
The second rediculously stupid problem was that all the inventory items go into the QB items list, along with all other items - sales, services, and even Invoice subtotals are part if the "items" list. There is no specific area for inventory items, which is really faulty for the Retail edition. You can create categories and subcategories but they all go into the "items" list, which makes it huge.
I believe QB has an integrated solution that involves the POS and online sales, but it would be strictly proprietary. We threw in the towel on this and rely on manual daily sales entry for now until we get the POS. Even then, it will not help much unless you purchase their ecommerce integration modules, or manually enter all online sales into the POS. For more info you can try digging around the QuickBooks community forum, which is sometimes helpful but most often vague and sporatic.
Quickbooks is often an all-or-nothing solution. In your case, I might suggest an export of the Items list on a daily basis and upload it to your site. A script would then parse out the plain-text IIF and update your online inventory. Even this is bereft with possible problems, not to mention yet another daily task.