Defining Material Classification Codes

I am trying to define material classification codes but I am receiving an error of:

Please enter the required value for the COO segment in the Material Classification Types flexfield

On EBS version 12.2.10 and followed this document:

Section: Tagging Material Classification Type for Items

https://docs.oracle.com/cd/E26401_01/doc.122/e48820/T291651T298833.htm#T662812

These are the steps I took to get to this error.

This gave an error

Compiled manually

Then try to Save and receive the error shown.

I tried other combinations such as COO-US, based on the documentation, but everything I enter ends with the same error.