With price control S, enter a standard price

What causes this issue?

The price control indicator is set to <LS>S</>, but you have not
entered a standard price. For the system to valuate the stock of the
material correctly when goods movements are made, you must always enter
a standard price.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Enter a standard price.

Procedure for System Administrators

INCLUDE OMT4 OBJECT DOKU ID TX LANGUAGE EN

Error message extract from SAP system. Copyright SAP SE.