Item being issued at 0 Cost. Item Cost History different than Item Cost

We just discovered a situation with this one item being issued at zero cost, going back to 2007 all issuance transactions have been at zero cost; when checking item cost however a value of $ 3,100 displays.

Item Cost History however indicates cost is zero and has been so since 2007. When comparing a normal item against this one, the only difference at all (including item set up, etc) is that when clicking on the the "Cost Elements" button (under Item Cost History) and then selecting "Transaction Cost Elements" the item in question has zeroes across all boxes, i.e. "Material", "Material Overhead", "Resource" etc. whereas all normally behaving items have a number in the "Material" box (and zeroes in all others). I wonder how this item got to be different and behave different if it was set up exactly the same way