The valuation area could not be determined; check your entries

What causes this issue?

You wanted to display all the <DS:GLOS.valuation_type>valuation
types</> allowed for the material. However, this requires the system to
determine a <DS:GLOS.valuation_area>valuation area</>, which it could
not do in this case.
Note
The valuation area is determined from the <DS:GLOS.plant>plant</> or
<DS:GLOS.company_code>company code</>, depending on whether valuation
is at plant level or at company code level at your company.

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?

Check the following settings in Customizing for <LS>Enterprise
Structure</>:
Valuation level
You do this in the activity <DS:SIMG.SIMG_CFMENUSAPCOX14>Define
valuation level</>.
Assignment of plant to company code
You do this in the activity <DS:SIMG.SIMG_CFMENUSAPCOX18>Assign plant
to company code</>.

Error message extract from SAP system. Copyright SAP SE.