Logistics - Tracking Part

We are on Release 12.2.5 using Inventory - using Average Costing - not using Warehouse Management.

We have an inventory part that we order from Supplier ABC at a cost of $10.00 each.

After we receive the part from Supplier ABC, we send the part to Supplier XYZ where they add a coating to the part.  This part now has a value of $15.00.

We're concerned with tracking where the part is AND how the average cost is changing once the coating is applied.

We know that we could do a miscellaneous issue and receipt and then an average cost update -- but would like to find a more elegant solution if there is one.