Change in cost centre codes involving Inventory(Subinventory) and Procurement Accounts

Dear All,

Our client has decided to change the existing codes of cost centers for Inventory(Store/Sub-inventory) and Procurement accounts, and replace it with the new one. Old codes will be disabled or deleted. Is this standard practice and is possible to change cost center in the existing Account code combination? We see Sub-inventory Accounts and cost management accounts (In inv parameters) cannot be changed and there are transactions performed against these (Material Account). How can this be achieved or any impact of these changes in reporting?

We are on FIFO costing.

Would be grateful if guide us the way forward to implement this.