Is custom extensions possible to maintain separate cost for project basis in inventory

Hi,

We are using an standard costing method, our requirement is to maintain the item cost separetly for each project wise when ever PO is created and receipted to inventory and the material issued to Projects from miscellaneous transactions. We know that this can be achievable by enabling PJM  module, but we want to use custom solution similar like PJM.

We taught is enabling DFF at PO distribution level to maintain Project and Task and Locator will the combination of Project and Task, so when the Material is receipted to Inventory we we use custom extension to update the project details and make them to transfer to Projects (Including Purchase Price Variance amount), in both material transactions table as well as in Project Collection program.