Required function MB_UPDATE_MATERIAL_VALUES is not being processed

What causes this issue?

The function module you called MB_UPDATE_MATERIAL_VALUES requires that
the current period and fiscal year are correctly transferred to table
&V1& (in fields MBLFM and MBGJA of structure &V2&).
This is not the case here. The system has therefore terminated the
function.

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?

INCLUDE NA_SYSADMIN1

Error message extract from SAP system. Copyright SAP SE.