Project Level Cosing

Hi,

We are using Project Costing and Billing and have a scenario where the client wants to maintain seperate cost in inventory for an item being utilized for a project.We can either create seperate inventoriees or sub-inventories for each project.We are using average costing so can't have different material account at subinventory level.

Is there a way to maintian seperate cost for an item for each project if we do not want to crate a seperate inventory for each project ?

We are on R12.

Regards