Unable to determine price for base product & in any associated location.

What causes this issue?

The system is unable to determine a price for the chosen base product
from any associated location.

System Response

Error message

How to fix this error?

Please check the validity of the base product. Ensure that an
associated location has been assigned to the base product, that the
base material has been created for the price reference plant and that
there exists base product stock in the associated location and for the
entered valuation type.

Error message extract from SAP system. Copyright SAP SE.