Transfer Invoice Variance to Inventory Valuation

  Dear All,
  1. Is this program < Transfer Invoice Variance to Inventory Valuation> to update the item cost that it get from receiving item from PO with the actual cost of that item in the invoice?
  2. What is the accounting entry it will create?
  3. IS this the way we can :
    a. Update Item Average cost?
    b. Decreasing the Invoice Price Variance account so that it would be eventually = zero?
  4. How to use this program.


  Regards,
  Shareef