Last Purchase Price for item using Standard Costing Method

Last Purchase Price of a specific Item Location with Standard Costing Method is based on most recent purchase price of the item that added positive inventory.

Purchase Price Variance for Purchases is equal to Vendor's Price less cost of the Inventory Cost Revaluation per Location.

For example:

If today, Item Receipt's Rate is $1.00 for a quantity in Chicago Location and the New Unit Cost of the Inventory Cost Revaluation is $20 in Chicago Location.

Item Record then reflects Last Purchase Price equal to $1.00