Invoice Price variance in Payables Invoice

Summary

Invoice Price variance in Payables Invoice

Content

Hi Gurus,

When there is difference in PO price and Invoice price, I can see that Invoice price variance is getting generated in Accounting entry of Payables Invoices. I would like to understand if this IPV impact the inventory valuation ? If it impacts the inventory valuation then what accounting entry get passed. 

Does this IPV account gets reversed in any entry in costing ? Or this IPV accounts goes directly to Profit and Loss ?

Please provide your valuable inputs.

Thanks !