CSV Import for Items > Updating Item Defined Cost generates 'You have entered an Invalid Field Value for [CostEstimate]'

The customer is trying to update the Item Defined Cost via CSV Import. However, the customer is getting  'You have entered an Invalid Field Value for [CostEstimate]' eventhough the field has the correct currency amount.

The CSV File has the following columns:

  Internal ID
  Name (Item Name)
  Cost Estimate Type = Item Defined Cost
  Item Defined Cost = $123.00 [as an example]

Note: On the sample Item record > Under Sales/Pricing Tab > Cost Estimate Type = Item Defined Cost; Item Defined Cost = $xx

 
1. Navigate to Set Up > Import/Export > Import CSV Record

  Import Type = Items
  Record Type = Lot Numbered Inventory Item
  Data Handling = Update
  Mapping >
    Internal ID <<>>Internal ID
    Item Defined Cost <<> Item Defined Cost
    Cost Estimate Type <<>> Cost Estimate Type

2. Click Next and proceed with the Import.

Note: An error is generated. To fix this, check the format the Item Defined Cost and set it as Currency with Symbol = None > Save the File and re-upload. Make sure the column does not have the $ symbol since the actual field in NS does not hold any Currency symbol but only the actual amount.