Change in the Costing Method for a Inventory organization

 Hi 

We have implemented a Regional Distribution center in Middle east having one inventory organization in the operating unit. The cost method was selected as Standard during the initial implementation. After 3 months of implementation Users were unable to understand what do with price difference resulting from implementation of standard price lists. These standard price list are copy from another operating unit with certain mark up.

As a result they have decided to implement FIFO costing method. For this purpose we will create a new inventory organization with the new costing method.

If some one guide me what are configuration changes need to taken into consideration, also for coverting the existing inventory to new inventory organization with historical information.