Calculating Cost and Valuation Prices

Select the Actualize Standard Cost and Revalue Inventory check box in this session, or use the Actualize Standard Cost and Revalue Inventory (ticpr2220m000) session to update the standard cost displayed in the Item - Costing (ticpr0107m000) session. Enter the following data:

• The ranges of item groups and standard items
• Cost calculation code
• Standard cost calculation method

You can calculate the valuation and standard cost of standard items only. In the Calculate Standard Costs by Project (tipcs3250m000) session you can calculate the prices for customized items.

Use the Archive/Delete Cost History (ticpr2230m000) session or select the Delete Standard Cost History Data check box to remove the standard cost history data. You can only select the Delete Standard Cost History Data check box if also the Actualize Standard Cost and Revalue Inventory check box is selected. Depending on the Number of Years to Retain Standard Cost History field in the Standard Cost Calculation Parameters (ticpr0100m000) session, data is deleted during the actualization process.